European Commission approves jv between JLL Partners and DSM
Will focus on contract manufacturing, outsourcing, APIs and product development services
A US$2.6bn pharmaceutical joint venture between JLL Partners of the US, and DSM of the Netherlands, announced in November 2013, has been approved by the European Commission, without imposing conditions.
Private equity firm JLL and health and food company DSM will each transfer some of their pharmaceutical businesses to the joint venture. It will focus on contract manufacturing, outsourcing, active pharmaceutical ingredients and pharmaceutical product development services.
The Commission said the proposed acquisition 'would not raise competition concerns', because 'overlaps between the parties’ activities' in the European Union (EU) are 'minor'.
Brussels pushed the deal through under its fast-track simplified merger review procedure.