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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not confirm the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies involved:
- The acquirer: The company “Sun Pharmaceutical Industries Ltd”;
- The target: The company “Valstar S.A.”.
Nature of the operation
- Acquisition of exclusive control.
Economic sectors concerned by the operation
- Manufacturing and distribution of pharmaceutical products.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. May 27, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has been notified of an economic concentration operation consisting of a project for the acquisition by the company “Sun Pharmaceutical Industries Ltd” of the exclusive control of the company “Valstar S.A” through the acquisition of 100% of its share capital and related voting rights.
“Sun Pharmaceutical Industries Ltd” is a limited liability company under Indian law, headquartered at SPARC Tandalja, Vadodara 390012, active in Morocco in the import, development, and manufacturing of pharmaceutical products through the company “Sun Pharmaceuticals Morocco LLC,” a Moroccan company headquartered in Casablanca.
“Valstar S.A.” is a public limited company under Luxembourg law, active in Morocco in the import, development, and manufacturing of pharmaceutical products through the company “Kemipharm SA,” a Moroccan company headquartered in Casablanca.
Done in Rabat on May 16, 2024
