Paris-based Air Liquide's subsidiary Schulke has received CCI nod to acquire Healthcare Antisepsis Solutions(HAS) business of Ethicon.
HAS is the skin disinfection and hygiene business unit of Ethicon, a Johnson and Johnson subsidiary.
The products are distributed in the Asia-Pacific region, under the brand name, Microshield and in 2014 it generated a revenue of 40 million euros.
In India, as a part of the deal, Schulke India Private Limited proposes to acquire the HAS business of Johnson & Johnson Private Limited relating to products manufactured and sold under the brand names "Microshield" and "Ioprep".
The deal also encompasses transfer of assets comprising of manufacturing agreement, licensing agreements, customer and distribution agreements, inventory and employees fully related to the business from Johnson & Johnson.
In a tweet today, the Competition Commission of India said that it "approves acquisition of Healthcare Antisepsis Solutions business of Ethicon, Inc by Schulke Germany and Mayr GmbH".
"This acquisition is in line with the development strategy for Air Liquide's Hygiene activity. It will allow us to develop our business in Asia, which has significant potential for growth and to gain a foothold in new geographic markets," Air Liquide group's Executive Committee Member and VP Healthcare Global Operations Pascal Vinet had said.
Meanwhile, CCI has also approved creation of joint ventures by Unicredit, Santander and Sherbrooke.
The transaction involves the formation of two asset management joint ventures by UniCredit, Santander and Sherbrooke, an investment vehicle indirectly owned by two entities affiliated with Warburg Pincus and General Atlantic.
In a tweet, the regulator said that it "approves creation of JVs by Unicredit, Santander and Sherbrooke".
One of the joint ventures will combine the asset management businesses carried out by Pioneer Global Asset Management (PGAM) and its certain subsidiaries, and SAM Investment Holdings Limited.
Italy-based UniCredit is the sole owner of PGAM, while SAM is a joint venture controlled by Santander and Sherbrooke.
The other joint venture consists of the PGAM's asset management business in US carried out through Pioneer Investment Management USA and other US group companies which will be active only in the US and Canada.
It is proposed that Sherbrooke will invest in this joint venture.
