The Competition Commission of India (CCI) has approved Nestlé's proposed acquisition of Pfizer Nutrition business.
CCI said that considering the instance that Pfizer is not involved in the Indian nutrition marketplace, it is not likely to have any adverse effect on competition in India, reported The Economic Times.
"...The Commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the proposed combination under section (1) of section 31 of the Act," CCI added.
In April, Nestlé announced that it would acquire Pfizer's infant nutrition business for $11.85bn, as a part of its efforts to bolster its position in emerging markets.
Nestlé, a Switzerland-based company, is involved in production and marketing of food and beverages products, including dairy products, coffee beverages, packaged water, cereals, healthcare and infant nutrition products.
American pharmaceutical company Pfizer develops manufactures and markets a range of human and animal healthcare products. Pfizer Nutrition is a division of Pfizer which is into the business of nutrition.
