Aatmja Kumari(Intern Journalist): The Competition Commission of India (CCI) today, under Section 31 (1) of the Competition Act, 2002, International Flavors and Fragrances Inc. (IFF) Nutrition and Biosciences Inc. (Spinco) has approved the acquisition.
This proposed combination relates to DuPont de Nimours, Inc.’s (DuPont) acquisition of complete control by IFF over the Nutrition and Biosciences business (N&B Business). DuPont will transfer the business to N&B through a wholly acquired Spinco, a newly formed company of DuPont.
IFF is a public industry based in New York, United States. The IFF is active worldwide for the business of developing, manufacturing and selling specific flavors and fragrances used in the consumer goods industries (such as the food and beverage, personal care, or household products industries). The main business units of IFF are ‘Aroma’ and ‘Taste’.
Spinco is a recently incorporated company, to which DuPont will transfer its N&B business. N&B Business is active worldwide in the production and marketing of food science, flavoring, and applications, biotechnology products used in various industries, such as food and beverage, nutritious foods, home and personal care, animal nutrition, and pharmaceutical products.
N&B Business operates its business through ‘Food & Beverage’, ‘Health & Biosciences’, and ‘Pharma Solution’ units.
CCI’s detailed order will be followed.
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