Abu Dhabi’s Platinum Owl gets CCI nod to buy stake in Intas

Platinum Owl buys stake in Intas

HT team

October 11, 2022: The Competition Commission of India, the country’s anti-trust regulator has given the nod for Platinum Owl to buy a minority stake in Intas Pharmaceuticals.

The proposed transaction involves a secondary acquisition by Platinum Owl of 3 percent of the equity shareholding of Intas (on an outstanding shares basis), according to a government statement.

Intas, an Indian public company based out of Gujarat, manufactures and markets pharmaceutical formulations and is the parent company of the Intas group. 

The products of Intas have a pan-India presence and have an extensive portfolio of specialty and generic pharmaceuticals exported globally from its manufacturing facilities in India.

Accord Healthcare

Intas has set up a network of subsidiaries, under the umbrella name of Accord Healthcare to operate in global markets. It is currently present in more than 85 countries.

Platinum Owl is a private limited company, incorporated in the Abu Dhabi Global Market (ADGM). Abu Dhabi Investment Authority is the sole beneficiary and settlor of the Platinum Jasmine A 2018 Trust. 

The investment authority. is a public institution established as an independent investment institution by the Government of the Emirate of Abu Dhabi.

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