Deutsche Bank wins EU approval to buy drug company
Thursday, September 23, 2021 4:36 AM

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BRUSSELS, Sep. 23, 2010 (Xinhua News Agency) -- Deutsche Bank (NYSE:DB) of Germany has won approval from the European Union (EU) to buy Icelandic generic pharmaceutical company Actavis.

The European Commission, the EU's antitrust watchdog, said in a statement Wednesday the proposed transaction would not significantly impede effective competition in Europe.

Deutsche Bank is an internationally active banking group headquartered in Frankfurt, Germany, while Actavis is an Iceland-based international company active in the development, production and marketing of generic pharmaceutical products.

Deutsche Bank, which is Actavis' most important creditor, would acquire control over the company through rights reserved to Deutsche Bank following a financial restructuring.

The commission found that competition concerns could be excluded due to an absence of overlaps between the activities of the two companies.

 

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