The Competition Commission of India (CCI) has approved acquisition of GlaxoSmithKline Asia Private Limited (GSKAPL) shareholding by GlaxoSmithKline Consumer Healthcare Overseas Limited and GlaxoSmithKline Consumer Healthcare UK Trading Limited.
The proposed combination involves collective acquisition of 100 per cent shares of the company.
Prior to the proposed combination, GSKAPL will acquire the trademarks pertaining to "Iodex" and "Ostocalcium" brands in India alongwith the legal, economic, commercial and marketing rights of such brands and other associated assets (GSK Consumer Brands) from GlaxoSmithKline Pharmaceuticals Limited, the CCI said.
GSKAPL is a consumer healthcare company that is engaged in the marketing and distribution of oral healthcare products under various brand names such as Sensodyne, Parodontax, Polident and over-the-counter medicines products under the brand names such as Crocin, ENO.
GlaxoSmithKline Consumer Healthcare Overseas Limited is a wholly-owned subsidiary of GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited.
(With inputs from ANI)
