Principal International India Limited, Uk
Case brief
What is this about?
The Competition Commission of India approved a combination notification filed by Principal International India Limited. The Commission found that the proposed acquisition would bring Target AMC and Trustee under the sole control of Principal Financial Group, observing no change in market dynamics or appreciable adverse effect on competition.
What did the court decide?
Notice under Section 6(2) of the Competition Act, 2002 was approved pursuant to Section 31(1) of the Act.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2018/01/543)
15th January, 2018
Notice under Section 6 (2) of the Competition Act, 2002 filed by Principal International India Limited.
CORAM:
Mr.Devender Kumar Sikri Chairperson
Mr. Sudhir Mital Member
Mr. Augustine Peter Member Mr. U.C. Nahta Member G. P. Mittal Member
Authorised Representative: Principal Consulting (India) Private Limited
Order under Section 31(1) of the Competition Act, 2002
- On 2nd January, 2018, the Competition Commission of India received a notice filed by Principal International India Limited (“Principal”/“Acquirer”) under sub-section 2 of Section 6 of the Competition Act, 2002 (“ Act ”) pursuant to: (a) Share Purchase Agreement dated 19th December, 2017 entered into and amongst Principal, Principal Financial Group (Mauritius)
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of equity in Target AMC and Target Trustee by Principal International India Limited would have an appreciable adverse effect on competition.
Whether the Commission should approve the combination under Section 31(1) of the Act.
Whether the post-combination ownership and control structure would alter market dynamics.
Parties & counsel
- applicant
Principal International India Limited
Coram
Devender Kumar Sikri
Sudhir Mital
Augustine Peter
Case details
As recorded by the court registry
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