The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Parexel by Goldman Sachs Group, both of the US, and EQT Fund Management of Luxembourg.
Parexel provides biopharmaceutical outsourcing services. It conducts clinical trials on behalf of its pharmaceutical clients to expedite the drug approval process
Goldman Sachs and EQT are investment management firms with investments in pharmaceutical companies among others. The Commission concluded that the proposed acquisition would raise no competition concerns given the very limited overlaps between the activities of the companies. The transaction was examined under the simplified merger review procedure.
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