{"id":220837,"date":"2019-10-14T17:11:28","date_gmt":"2019-10-14T11:41:28","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220837"},"modified":"2019-10-15T13:07:41","modified_gmt":"2019-10-15T07:37:41","slug":"competition-commission-of-india-approves-combinations-under-s-311-of-the-competition-act-2002","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/14\/competition-commission-of-india-approves-combinations-under-s-311-of-the-competition-act-2002\/","title":{"rendered":"Competition Commission of India approves Combinations under S. 31(1) of the Competition Act, 2002"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>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.<\/em><\/p>\n<p style=\"text-align: justify;\"><strong>The proposed combination relates to the acquisition of up to 55.2% equity stake in GAL collectively by TUTPL, Valkyrie and Solis.<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>TUTPL<\/strong> is a wholly-owned subsidiary of Tata Realty and Infrastructure Limited (\u201cTRIL\u201d), which in-turn is a wholly-owned subsidiary of Tata Sons Private Limited (\u201cTata Sons\u201d). TUTPL is engaged in the development of urban transport and infrastructure facilities such as ropeways, metro rail transit system etc.<\/p>\n<p style=\"text-align: justify;\"><strong>Valkyrie<\/strong> is a foreign venture capital investor (\u201cFVCI\u201d) registered with the Securities and Exchange Board of India (&#8220;SEBI&#8221;) under the SEBI (Foreign Venture Capital Investors) Regulations, 2000 (\u201cSEBI FVCI Regulations\u201d). Valkyrie is a special purpose vehicle<br \/>\norganized as a private limited company in Singapore and is an affiliate of GIC Private Limited.<\/p>\n<p style=\"text-align: justify;\"><strong>Solis<\/strong> is registered as an FVCI with SEBI under the SEBI FVCI Regulations. Solis is an investment vehicle of the SSG group and is advised by SSG Capital Management (Singapore) Pte. Ltd., which is regulated by the Monetary Authority of Singapore to undertake fund management activities.<\/p>\n<p style=\"text-align: justify;\"><strong>GAL<\/strong> is registered with the RBI as a CIC-ND-SI and is an investment holding company. GAL, through its subsidiaries, is engaged in developing, managing and operating airports in India and around the world, while also being engaged in associated business activities.<\/p>\n<p style=\"text-align: justify;\">The <strong>Commission approved the Proposed Combination subject to carryout of certain modifications proposed by TUTPL under Regulation 19 (2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.<\/strong><\/p>\n<hr \/>\n<p><strong>Competition Commission of India<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 01-10-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CCI approves the acquisition of a shareholding in GMR Airports Limited (\u201cGAL\u201d) by TRIL Urban Transport Private Limited (\u201cTUTPL\u201d), Valkyrie Investment Pte. <\/p>\n","protected":false},"author":8808,"featured_media":76441,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[15971,37911,37701],"class_list":["post-220837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business_news","category-news","tag-acquisition","tag-combination","tag-section-311-of-competition-act-2002"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Competition Commission of India approves Combinations under S. 31(1) of the Competition Act, 2002 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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acquisition of stake in Future Supply Chain Solutions Limited (Future Supply) by Nippon Express (South Asia & Oceania) Pte. Ltd. (Nippon Express), under Section 31(1) of the Competition Act, 2002. The proposed combination pertains to the acquisition by Nippon Express of approximately\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":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":220837,"position":1},"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). 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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":219925,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/24\/cci-approves-combinations-under-section-311-of-the-competition-act-2002\/","url_meta":{"origin":220837,"position":4},"title":"CCI approves Combinations under Section 31(1) of the Competition Act, 2002","author":"Bhumika Indulia","date":"September 24, 2019","format":false,"excerpt":"Competition Commission of India (CCI) approves the following Combinations under Section 31(1) of the Competition Act, 2002: Acquisition of Dixcy Textiles Pvt. Ltd. (DTPL) by Varenna Holdings Limited (Varenna) The proposed transaction entails acquisition of equity shares in DTPL by Varenna. Varenna already holds 60% of the shares in DTPL.\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":220837,"position":5},"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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220837","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=220837"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220837\/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=220837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=220837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=220837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}