Home » Corporate » CCI approves acquisition of Nutrition & Biosciences, Inc. by International Flavors & Fragrances Inc.

CCI approves acquisition of Nutrition & Biosciences, Inc. by International Flavors & Fragrances Inc.

The Competition Commission of India (CCI) approves acquisition of Nutrition & Biosciences, Inc. (“Spinco”) by International Flavors & Fragrances Inc. (“IFF”) under Section 31(1) of the Competition Act, 2002, today.

The proposed combination relates to the acquisition of sole control by IFF, over the Nutrition & Biosciences business (“N&B Business”) of DuPont de Nemours, Inc. (“DuPont”), by means of acquiring sole control over SpinCo, a company newly formed by DuPont and to which DuPont will transfer the N&B Business.

IFF is a public company based in New York, United States of America. IFF is active worldwide in the development, creation, and sale of flavours and fragrances that are used in consumer goods industries (such as food and beverage, personal care, or household products industries). IFF’s main business units are ‘Scent’ and ‘Taste’.

SpinCo is a recently incorporated company to which DuPont will transfer its N&B Business. The N&B Business is active worldwide in the development, production, and marketing of food science, taste, and texture applications, and biotechnology products that are used in various industries, including food and beverage, dietary supplements, home and personal care, animal nutrition and pharmaceutical excipients. The N&B Business operates through its ‘Food & Beverage’, ‘Health & Biosciences’, and ‘Pharma Solutions’ units.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

CCI approves subscription to securities of Ecom Express Private Limited by CDC Group plc.

The Competition Commission of India (CCI) approves subscription to securities of Ecom Express Private Limited ...

Incorporation of Companies in current fiscal increased 21% as compared to corresponding period in previous fiscal

The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in ...

4,73,131 number of Indian Companies and 1,065 number of Foreign Companies have been benefited by availing the Companies Fresh Start Scheme (CFSS), 2020

As per records available with the Ministry of Corporate Affairs (MCA), 4,73,131 number of Indian Companies ...

Policy to boost Agricultural Exports

The Government introduced a comprehensive Agriculture Export Policy with the following vision: “Harness export potential ...

MCA initiates process of De-criminalisation of compoundable offences under Limited Liability Act,2008

With the object of unleashing the entrepreneurial spirits of our youth and to remove the ...

MCA amends One Person Companies (OPCs) rules Fast track mergers extended to Starts ups and other small companies

As a measure which directly benefits Startups & Innovators in the country, especially those who ...

MCA revises threshold for paid up capital and turnover for Small Companies

In line with the vision of the Government of India, the definition under the Companies ...

CCI approves the acquisition of stake by Axis Bank Limited, Axis Capital Limited and Axis Securities Limited in Max Life Insurance Company Limited

The Competition Commission of India (CCI) approves the acquisition of stake by Axis Bank Limited, ...

CCI approves acquisition of a minority stake in Aditya Birla Fashion and Retail Limited (ABFRL) by Flipkart Investments Private Limited

The Competition Commission of India (CCI) approves acquisition of a minority stake in Aditya Birla ...

Companies under Ethanol Blended Petrol Programme – Revision of ethanol price for supply to Public Sector OMCs for Ethanol Supply Year 2020-21

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has ...

WP2Social Auto Publish Powered By : XYZScripts.com