The Competition Commission of India (CCI) has cleared Edelweiss Alternative Asset Advisors and ESOF III Investment Fund’s subscription to certain compulsorily convertible debentures of Biocon Biologics.
The deal has been cleared under the green channel route.
Edelweiss Alternative Asset Advisors is a Sebi-registered alternative asset advisor, while ESOF III Investment Fund is a Sebi-registered Alternative Investment Fund (AIF).
An update of CCI’s website states, “The parties’ activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets. Therefore, the proposed combination is being notified under the green channel route.”
Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the anti-trust regulator.
(Edits by EP News Bureau)