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Summary The key developments over the last three months are as follows: This suggests prefiling consultation could be better used by all stakeholders. The notified acquisition of shares envisaged a two-step process: Acquisition of shares held by public shareholders through a delisting offer; and then Acquisition of shares held by the individual, Rohinton Screwvala and his associates.
A single notification was filed as the intended effect would have been achieved through steps related to each other. There is an exemption for intra-group transfer of shares through acquisition of shares or voting rights, though this does not apply for transactions with a change from joint to sole control.
It is not expressly stated in the order, but we assume that the two-step process envisaged a change from joint to sole control and hence a notification was required. Some of the businesses considered by the CCI while analysing the effect of the transaction included the business of: There is no declaration as such that these businesses would be the relevant market and hence it Utv india merger not clear whether it can be considered as a precedent for future transactions.
It may be the case that the CCI does not want to bind itself to precedents in the early years of its operation. Authorities in Europe and other mature jurisdictions also leave the definition of the market open when the transaction does not raise substantive issues.
There was a request for additional information from the CCI on 10 August which was complied with on 16 August The ultimate parent company of both these companies is Danone SA listed in France. Carol is a fellow subsidiary of Wockhardt limited and Wockhardt EU owns the intellectual properties for both Carol and Wockhardt limited.
Although there were three separate acquisitions, a single notice was filed covering all three acquisitions as they were considered to be inter-dependent and inter-connected. The order seems to accept the classification of the market provided by the Acquirers into i baby food business and ii medical nutrition business.
Two further subcategories namely a weaning cereals b milk food was also suggested for the baby food business, which also seems to be have been accepted by the CCI. The CCI order found that the parties have less than seven percent market share in both the sub-categories and that Nestle is the leading player in the baby food business.
The CCI also considered the effect of the transaction on the medical nutrition business where the Target had less than ten per cent market share. As in the case of the notification described above in Section 2. The transaction was notified on 24 August and the clearance decision was issued on 15 September The Acquirers were directed by the CCI on 29 August to provide additional information and documents.
The information was furnished on 5 September and some additional information was provided on 9 September On this interpretation, many business sales will be caught. It seems to be the case that the CCI was of the view that since the laminates division proposed to be acquired was not a separate legal entity the turnover of the whole of BBTCL should be taken into account for determining whether thresholds for notification are met.
This interpretation would not be consistent with the rules for notification in other major merger control regimes. It also appears the parties to the transaction did not consider there were any horizontal or vertical overlaps between them, and accordingly completed Part I of Form 1, which is a short form notification and relevant to such situations.
Consequently, the CCI requested further information and completion by the parties of Part II of Form 1, which is required to be completed where the parties to a transaction are engaged: The transaction was notified on 7 September Alstom Holdings India Limited and Alstom Projects India Limited The CCI by this decision seems to consider that an intra-group transaction relating to a subsidiary wholly owned or majority owned sole control would not have to be notified if the transaction is an acquisition of shares or voting rights.
The transaction was notified on 12 October and the clearance decision was issued on 19 October A. Mergers 1. Walt Disney/UTV Software Communications The transaction related to the merger of Alstom Holdings (India) Limited (“AHIL”) into Alstom Projects India Limited (“APIL”) pursuant to a scheme of amalgamation.
AHIL is a wholly owned subsidiary of 4 India Competition Report. Merger of UTV Software India with UMP PLC (UK) & UTV Motion Pictures (Mauritius) Ltd.
In March 6. UTV Communication USA llc India games Limited UTV Global Broadcasting Limited IG Interactive Entertainment Ltd, UK UTV Software India UTV GAMES LTD TRUE GAMES INTERACTIVE INC FIRST FUTURE AGRI & DEVELOPERS LTD UTV NEW MEDIA LTD.
He has lived in India, the Middle East and ashio-midori.coma holds a B.S. in engineering from the National Institute of Technology in India and an M.B.A. from Kellogg School of Management.
May 03, · Mergers and Acquisitions in India Demand is slowing down, addressable market of various businesses are shrinking, competition has intensified, business sentiments are low, world’s biggest economies are in recession and market valuations are at historic lows—seriously, the time has come to witness history’s biggest consolidation phase.
UTV AND DISNEY: A STRATEGIC ALLIANCE The Global Opportunities UTV Software Communications Ltd. is considering the proposal for an alliance with The Walt Disney Company that want to acquire per cent of UTV's channel, the Hungama TV. In general, the UTV's opportunities to expand globally include several scenarios.
Nov 27, · Get latest & exclusive Utv news updates & stories. Explore photos & videos on Utv. Also get news from India and world including business, cricket, technology, sports, politics, entertainment.