Tempo Acquisition, Llc, Usa
Case brief
What is this about?
The Competition Commission of India approved a proposed acquisition by Tempo Acquisition, LLC of certain businesses from Aon Plc. The Commission found no likelihood of an appreciable adverse effect on competition in India due to lack of market overlap, as Tempo is an investment vehicle without current business presence.
What did the court decide?
The proposed combination under Section 6 of the Act was approved under Section 31 of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2017/02/488)
Fair Competition For Greater Good
12th April, 2017
Notice under sub-section (2) of Section 6 of the Competition Act, 2002 given by Tempo Acquisition, LLC
CORAM:
Mr. Devender Kumar Sikri Chairperson Mr. S. L. Bunker Member Mr. Sudhir Mital Member Mr. U. C. Nahta Member Mr. G. P. Mittal Member
Legal representatives: Shardul Amarchand Mangaldas & Co.
Order under sub-section (1) of Section 31 of the Competition Act, 2002
- On 28th February, 2017, the Competition Commission of India (“ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“ Act ”) filed by Tempo Acquisition, LLC (“ Tempo ” or “ Acquirer ”).
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition by Tempo Acquisition, LLC constitutes a combination likely to have an appreciable adverse effect on competition in India.
Whether horizontal or vertical overlaps exist between the acquirer, the target, or the acquirer's portfolio companies.
Whether the proposed combination should be approved under Section 31 of the Competition Act, 2002.
Parties & counsel
- applicant
Tempo Acquisition, LLC
- other
Aon Plc
- other
Aon HR Services India Private Limited
Coram
Case details
As recorded by the court registry
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