CCI approves acquisition of Parexel International Corporation by Phoenix

The Competition Commission of India (CCI) approves the acquisition of Parexel International Corporation by Phoenix Parentco, Inc.

The proposed combination envisages the 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).

Target is headquartered in Durham, USA. It provides biopharmaceutical outsourcing services to biopharmaceutical companies.

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The global activities of Target can be categorised into broad segments viz. clinical solutions and consulting. (PIB)

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