Jointly by Gerdau S. a., Brazil, Sumitomo Corporation, Japan and The Japan Steel Works, Ltd., Japan.
Case brief
What is this about?
Mechanism
What did the court decide?
The proposed combination is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2016/06/412)
Fair Competition For Greater Good
17.08.2016
Notice u/s 6 (2) of the Competition Act, 2002 jointly given by Gerdau S.A., Sumitomo Corporation and The Japan Steel Works Ltd
CORAM:
Mr. S. L. Bunker Member
Mr. Augustine Peter Member Mr. U.C. Nahta Member Mr. M. S. Sahoo Member
Legal Representatives of the parties: M/s Agram Legal Consultants
Order under Section 31(1) of the Competition Act, 2002
- On 30.06.2016, the Competition Commission of India (hereinafter referred to as the “Commission” ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 ( “Act” ) given by Gerdau S.A. (“ Gerdau ”), Sumitomo Corporation (“ SC ”) and The Japan Steel Works Limited (“ JSW ”) (Hereinafter Gerdau, SC and JSW are collectively referred to as the “ Parties ”). The said notice was given pursuant to the Investment Agreement dated 06.06.2016, entered into by and between the Parties.
Issues for consideration
2 issues framed by the court
Whether the proposed joint venture between Gerdau, Sumitomo Corporation, and The Japan Steel Works Ltd creates appreciable adverse effect on competition in India.
Whether the consideration attributable to Gerdau from its assets constitutes part of the notice threshold under the Combination Regulations.
Parties & counsel
- applicant
Gerdau S.A.
- applicant
Sumitomo Corporation
- applicant
The Japan Steel Works Ltd
Coram
Case details
As recorded by the court registry
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