{"id":219925,"date":"2019-09-24T12:00:23","date_gmt":"2019-09-24T06:30:23","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=219925"},"modified":"2019-09-25T12:56:15","modified_gmt":"2019-09-25T07:26:15","slug":"cci-approves-combinations-under-section-311-of-the-competition-act-2002","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/24\/cci-approves-combinations-under-section-311-of-the-competition-act-2002\/","title":{"rendered":"CCI approves Combinations under Section 31(1) of the Competition Act, 2002"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Competition Commission of India (CCI) approves the following Combinations under Section 31(1) of the Competition Act, 2002:<\/strong><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"color: #0000ff;\"><em>Acquisition of Dixcy Textiles Pvt. Ltd. (DTPL) by Varenna Holdings Limited (Varenna)<\/em><\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">The proposed transaction entails acquisition of equity shares in DTPL by Varenna. Varenna already holds 60% of the shares in DTPL.<\/p>\n<p style=\"text-align: justify;\">Varenna is an indirect subsidiary of funds managed by Advent International Corporation.<\/p>\n<p style=\"text-align: justify;\">DTPL is primarily engaged in manufacturing of hosiery products including men\u2019s inner wear (including boy\u2019s inner wear), women\u2019s innerwear (including girl\u2019s innerwear) and casual wear (including T-shirts, Tracks, sweatshirts, shorts, leggings, athleisure, thermal wear, capris and skirts).<\/p>\n<ol style=\"text-align: justify;\" start=\"2\">\n<li><span style=\"color: #0000ff;\"><em>Acquisition of approximately 25% shareholding of Federal-Mogul Goetze (India) Limited (FMGI) by Icahn Enterprises L.P. (IEP LP); American Entertainment Properties Corp. (AEP); and IEH FMGI Holdings L.L.C. (IEH)<\/em><\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">The proposed transaction contemplates an acquisition of approximately up to 25.02% shareholding of FMGI by the Acquirers from the public shareholders of FMGI. Under the SEBI (Substantial Acquisitions of Shares and Takeover) Regulations, 2011, IEP LP and AEP, together with its subsidiary, IEH are the persons acting in concert with Tenneco Inc.<\/p>\n<p style=\"text-align: justify;\">FMGI (the target) manufactures and sells pistons, piston rings, valve seats, valve guides and structured parts for a wide range of applications including two\/three-wheelers, cars, sport utility vehicles, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines.<\/p>\n<ol style=\"text-align: justify;\" start=\"3\">\n<li><span style=\"color: #0000ff;\"><em>Restructuring of pharmacy business of Apollo Hospitals Enterprise Limited (AHEL) and its subsequent acquisition by Enam Securities Private Limited, Jhelum Investment Funds I and Hemendra Kothari.<\/em><\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">In terms of the proposed combination, the front end standalone pharmacy business of AHEL shall be transferred by AHEL to Apollo Pharmacies Limited (APL) by way of slump sale pursuant to approval of the National Company Law Tribunal, Chennai Bench.<\/p>\n<p style=\"text-align: justify;\">AHEL is a part of the Apollo Group and provides integrated healthcare services in India and internationally. AHEL healthcare facilities comprise primary, secondary, and tertiary care facilities.<\/p>\n<p style=\"text-align: justify;\">APL is engaged in the business of buying, selling, importing, exporting, distribution or\u00a0dealing in or manufacturing, Medical and Pharmaceuticals products like intravenous sets, intravenous solutions, all kinds of drugs, disinfectants, tinctures, colloidal products, injectable and all pharmaceuticals and medical preparations and other related products.<\/p>\n<hr \/>\n<p><strong>[Source: PIB]<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>Ministry of Corporate Affairs<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 24.09.2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Competition Commission of India (CCI) approves the following Combinations under Section 31(1) of the Competition Act, 2002: Acquisition of Dixcy Textiles Pvt. 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2019","format":false,"excerpt":"CCI approves the acquisition of a shareholding in GMR Airports Limited (\u201cGAL\u201d) by TRIL Urban Transport Private Limited (\u201cTUTPL\u201d), Valkyrie Investment Pte. Ltd. (\u201cValkyrie\u201d) and Solis Capital (Singapore) Pte. Limited (\u201cSolis\u201d) under Section 31(1) of the Competition Act, 2002. The proposed combination relates to the acquisition of up to 55.2%\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":198116,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/07\/05\/cci-launches-an-online-guidance-system-for-determining-notifiability-of-merger-acquisitions-in-terms-of-the-competition-act-2002\/","url_meta":{"origin":219925,"position":1},"title":"CCI launches an Online Guidance System for determining notifiability of Merger &#038; Acquisitions in terms of the Competition Act, 2002","author":"Saba","date":"July 5, 2018","format":false,"excerpt":"Supplementing the Government of India\u2019s vision for e-Governance and\u00a0Digital India Programme, the Competition Commission of India (CCI) launched an Online Guidance System for determining notifiability of merger & acquisitions (combinations) in terms of the Competition Act, 2002. The Guidance System has been named as \u201cDo It Yourself\u00a0(DIY): A notifiability check\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222179,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/16\/cci-approves-secondary-acquisition-in-delhivery-private-limited-by-svf-doorbell-cayman-ltd-under-section-311-of-competition-act-2002\/","url_meta":{"origin":219925,"position":2},"title":"CCI approves secondary acquisition in Delhivery Private Limited by SVF Doorbell (Cayman) Ltd., under S. 31(1) of Competition Act, 2002","author":"Bhumika Indulia","date":"November 16, 2019","format":false,"excerpt":"The Competition Commission of India (CCI) approves the secondary acquisition in Delhivery Private Limited (DPL) by SVF Doorbell (Cayman) Ltd. (SVFD), under Section 31(1) of the Competition Act, 2002. The proposed transaction entails the secondary acquisition of up to 3.28% of the issued and paid-up share capital of DPL on\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":221611,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/31\/cci-approves-acquisition-of-shareholding-in-ani-technologies-p-ltd-ola-electric-mobility-p-ltd-by-hyundai-motor-co-kia-motors-corpn-under-s-311-of-competition-act-2002\/","url_meta":{"origin":219925,"position":3},"title":"CCI approves acquisition of shareholding in ANI Technologies (P) Ltd. &#038; Ola Electric Mobility (P) Ltd. by Hyundai Motor Co. &#038; Kia Motors Corpn. under S. 31(1) of Competition Act, 2002","author":"Bhumika Indulia","date":"October 31, 2019","format":false,"excerpt":"The Proposed Combination relates to acquisition of equity stake in ANI and Ola Electric Mobility (OEM) by Hyundai Motor Company (HMC) and Kia Motors Corporation (KMC). HMC and KMC are a part of the Hyundai Motor Group (HMG), engaged in the business of manufacturing and distribution of automobiles, automobile parts\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222655,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/29\/cci-approves-acquisition-by-amazon-com-in-future-coupons\/","url_meta":{"origin":219925,"position":4},"title":"CCI approves acquisition by Amazon.com in Future Coupons","author":"Bhumika Indulia","date":"November 29, 2019","format":false,"excerpt":"Competition Commission of India (CCI) approves the acquisition by Amazon.com NV Investment Holdings LLC (\u201cAcquirer\u201d) in Future Coupons (Private) Limited (\u201cFCL\/Target\u201d), under Section 31(1) of the Competition Act, 2002, today. The proposed combination pertains to the acquisition by the Acquirer of approximately 49% of the voting and non-voting equity shares\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222159,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/15\/cci-approves-acquisition-of-shareholdings-in-mumbai-international-airport-limited-by-adani-properties-private-limited\/","url_meta":{"origin":219925,"position":5},"title":"CCI approves acquisition of shareholdings in Mumbai International Airport Limited by Adani Properties Private Limited","author":"Bhumika Indulia","date":"November 15, 2019","format":false,"excerpt":"The Competition Commission of India (CCI) approves the acquisition of shareholdings in Mumbai International Airport Limited (\u201cMIAL\u201d) by Adani Properties Private Limited (\u201cAPPL\u201d)from Bid Services Division (Mauritius) Limited (\u201cBSDA\u201d) and ACSA Global Limited (\u201cACSA\u201d), under Section 31(1) of the Competition Act, 2002 (\u201cAct\u201d). The proposed combination relates to acquisition of\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/219925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=219925"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/219925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/76441"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=219925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=219925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=219925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}