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Your email address will not be published.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

Ministry of Corporate Affairs revises threshold limits for value of Assets and Turnover for purposes of combination filings under Competition Act, 2002 as a step towards ‘Ease of doing Business’

The Ministry of Corporate Affairs has revised the existing threshold value of assets and turnover ...

Measures by Government shall lead to three-fold increase in Natural Gas consumption by 2030: Petroleum Minister Hardeep S Puri

In a significant stride towards achieving 100% coverage of country’s area for the development of ...

Union Minister Pralhad Joshi launches “Coal Logistics Plan and Policy”

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi has launched a groundbreaking ...

Coal India Limited Signs MoU with Indian Institute of Managements (IIM) to boost PM’s mission Gati Shakti

The Coal India Limited entered into a Memorandum of Understanding (MoU) with Indian Institute of ...

ODISHA THE LAND OF OPPORTUNITIES

 A 3600 APPROACH Odisha has become a destination for investors and entrepreneurs from across the ...

South Eastern Coalfields Ltd Plans to Develop Solar Power Projects of 600 MW

South Eastern Coalfields Ltd (SECL), one of the largest coal-producing subsidiaries of Coal India Ltd, ...

NALCO surpasses past production records, posts Net Profit of Rs. 1544 crore and Clocks all time High Revenue from Operations at Rs.14, 255 crore in FY 22-23

National Aluminium Company Limited (NALCO), the Navratna CPSE, under the Ministry of Mines, Government of ...

MoS Rajeev Chandrasekhar holds Digital India Dialogues in Mumbai on the Principles of the Digital India Act

Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT Rajeev Chandrasekhar ...

Details of Fund Collected Under District Mineral Foundation by Different States

The Central Government under Section 20A of the MMDR Act has issued directions and circulated ...

Policy for Promotion of Software Exports

As per National Association of Software & Services Companies (NASSCOM), exports from Indian Information Technology/ ...

WP2Social Auto Publish Powered By : XYZScripts.com