The Indian Competition Authority approves joint acquisition of 100% shareholding in a biopharmaceutical outsourcing company by global investment companies (Parexel / Goldman Sachs / EFMS)

A notice was filed by Phoenix Parentco, Inc. (“Phoenix”) pursuant to the execution of the Interim Investors Agreement inter alia between Phoenix, EQT Investors and GS Investors; and Agreement and Plan of Merger inter alia between Phoenix, Phoenix Merger Sub Limited and Parexel Investment Holdings, L.P. The notice envisages acquisition of 100% of the equity shareholding of Parexel International Corporation (“Parexel/Target”) by Phoenix. EQT Fund Management S.à r.l. (“EFMS”) and Goldman Sachs Group, Inc. (“Goldman Sachs”) being the parent entities of Phoenix, will acquire joint control over Parexel. Phoenix is a special purpose vehicle, incorporated in State of Delaware, USA. It is jointly controlled by EFMS and Goldman Sachs. Parexel is headquartered in Durham,