Fair trade regulator CCI on Tuesday granted clearance to US-based private equity firm TPG's proposal to acquire a stake in Schott Poonawalla from billionaire Adar Poonawalla-led Serum Institute of India. Schott Poonawalla is engaged in the business of designing and manufacturing primary packaging solutions for pharmaceutical and biotech industries. "The proposed combination involves the acquisition by TPG Scion SG Pte Ltd of certain shareholding in SPPL (Schott Poonawalla Pvt Ltd) by way of a secondary purchase from Serum Institute of India Pvt Ltd," CCI said in a release. Mumbai-headquartered Schott Poonawala is a 50:50 joint venture between Serum Institute of India and SCHOTT Pharma AG & Co, which is part of German speciality glass firm SCHOTT AG. TPG Scion SG is a special-purpose investment vehicle and an affiliate of the TPG Group, which is a global diversified investment firm founded in 1992. In a separate release, the Competition Commission of India (CCI) on Tuesday approved