Govt clears Baxter-Claris’ Rs 4,020 crore deal

The Foreign Investment Promotion Board (FIPB) has cleared Baxter Healthcare’s deal to acquire India-based Claris Injectibles.

Quoting a senior official, a report in Moneycontrol.com said the board approved four foreign direct investment (FDI) proposals including Baxter Healthcare’s deal worth Rs 4,020 crore.

The remaining three applications from Panacea Publishing and Vodafone Mobile Services were also approved by the board, it said.

But there will be no fresh inflow of funds as these three proposals were related to restructuring.

An inter-ministerial body, FIPB is the current nodal agency responsible for processing FDI proposals.

Image Credit : static-news.moneycontrol.com

Research Desk

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