Page 27 - Competition Commission Of India

Nxtra Data shares issued to Carlyle affiliated entity post CCI nod: Airtel

On July 1, Airtel had announced that Carlyle Group will acquire about 25 per cent stake in its data centre business, Nxtra Data, for USD 235 million

CCI clears acquisition of solar energy assets by Adani Green-Total Solar JV

Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. Adani Green Energy Twenty Three Ltd -- a joint venture of Total Solar Singapore Pte Ltd and Adani Green Energy Ltd -- will buy the assets from Adani Green Energy Ltd. According to a combination notice filed with the watchdog, Adani Green Energy Twenty Three Ltd will acquire 100 per cent shareholding of ten target companies. Adani Green Energy Ten Ltd is the holding entity of the target companies. In a tweet on Tuesday, CCI said it has approved "acquisition of solar energy generation assets by Adani Green Energy Twenty Three Ltd - a joint venture of Total Solar Singapore Pte. Ltd. & Adani Green Energy Limited". Pursuant to the proposed combination, AGE23L will acquire 100 per cent of the share capital of Adani Green Energy Ten Ltd (AGE10L), which is the holding entity of the target companies.

Competition Commission rejects ILMA complaint against 19 chemical importers

CCI disposed of a complaint filed by the Indian Laminate Manufacturer's Association (ILMA) alleging formation of a cartel among 19 importers of phenol, a major raw material for making sunmica

Future group, Amazon to initiate arbitration proceedings over RIL deal

Amazon says the deal violates the no-compete contract signed with the Future group and the RIL-Future deal will derail its plans to buy a stake in Future Retail Ltd

CCI dismisses unfair business practices complaint against Hindalco, Vedanta

The Competition Commission of India (CCI) closed the matter as the informant was not able to substantiate the allegations made against the firms

API Holdings' proposed 100% acquisition of Medlife gets CCI's approval

Healthcare company Medlife is primarily engaged in wholesale and distribution of drugs. API Holdings is the parent entity of API Holdings group

CCI rejects unfair biz practices complaint against Amazon Seller Services

The ruling came on a complaint filed by Lifestyle Equities C V and Lifestyle Licensing B V

CCI approves Carlyle Group's stake acquisition in Airtel's data centre biz

The Competition Commission of India (CCI) on Wednesday said it has approved acquisition of compulsorily convertible preference shares and equity shares in Airtel's data centre business, Nxtra Data, by Carlyle Group's Comfort Investments II. The Carlyle Group in July said it will acquire about 25 per cent stake in Nxtra Data Ltd for USD 235 million (about Rs 1,780 crore). This will peg the enterprise valuation of Nxtra Data at USD 1.2 billion, which is over Rs 9,084 crore. On completion of the deal, Carlyle will hold about 25 per cent stake in the business, with Airtel continuing to hold the remaining stake of about 75 per cent. In a tweet, the regulator said it "approves proposed acquisition of compulsorily convertible preference shares & equity shares in Nxtra Data Limited @NxtraDataLtd by Comfort Investments II of Carlyle Group." Nxtra Data is a fully-owned subsidiary of Bharti Airtel Ltd and provides data centre colocation services through its 10 data centres located in India,

Siemens' acquisition of C&S Electric India operations gets CCI approval

Siemens has an agreement to acquire 99 per cent equity in New Delhi-based C&S Electric for around Rs 2,100 crore

CCI rejects petition alleging WhatsApp using clout to enter payment space

The National Payments Corporation of India (NPCI) had granted permission to WhatsApp in February to operate its payment service to 10 million users in India in the first phase

How bailout for three state-run insurers highlights Irdai's incompetence

The latest bailout also raises concerns about the need for a through relook at the quality of the managerial talent in these companies

Carlyle Group to acquire 25% stake in Airtel's Data Centre business

The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India

Competition Commission approves Facebook-Jio deal worth $5.7 billion

Jaadhu Holdings, LLC is an indirect wholly owned subsidiary of Facebook, Inc. through which it acquired the 9.9 per cent stake in Reliance's Jio

Competition Commission approves Facebook's 9.99% stake purchase in Jio

Jio Platforms was created in October last year to house all-digital initiative of Reliance

CCI to review Facebook's purchase of 10% stake in Reliance Jio

The US social media giant's $5.7 billion investment in Reliance's digital unit is the biggest among a string of investments amounting to $13.7 billion into Jio Platforms, controlled by Mukesh Ambani

Tata Steel, SKF and Schaeffler units colluded on prices of bearings: CCI

However, the CCI added it had decided not to impose a penalty, saying the "ends of justice would be met if the parties cease such cartel behaviour and desist from indulging in it".

CCI approves acquisition of Emami Cement by Nirma promoter Nuvoco Vista

In February, Nuvoco Vistas -- formerly Lafarge India Limited -- announced that it would acquire the 8.3 million tonne per annum cement business of Emami for an enterprise value Rs 5,500 crore

WhatsApp Pay accused of foul play; CCI reviewing antitrust allegations

The case is based on a mid-March complaint that accused WhatsApp of bundling pay service within its messaging app to abuse its market position and penetrate India's booming digital payments space

Competition Commission allows pre-consultation for filing needs amid crisis

The video conferencing will be done at the office of the regional director, registrar of companies, Ministry of Corporate Affairs

NCLAT sets aside CAIT plea against CCI nod to Walmart's Flipkart buy

A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said CAIT failed to establish its allegations against CCI granting approval for Walmart-Flipkart deal