The Competition Commission of India (CCI) approves acquisition of Parexel International Corporation by Phoenix Parentco, Inc.
The proposed combination envisages acquisition of 100% of the equity shareholding of Parexel International Corporation (Target) by Phoenix Parentco, Inc. (Acquirer). The Acquirer is jointly controlled by EQT Fund Management S.à r.l. (EQT) and the Goldman Sachs Group, Inc. (Goldman Sachs).
The Target is headquartered in Durham, USA. It provides biopharmaceutical outsourcing services to biopharmaceutical companies. The global activities of Target can be categorised into broad segments viz. clinical solutions and consulting.
Detailed order of the CCI will follow.