Hulst B.v, Netherlands
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where HULST B.V. would acquire up to 71% equity in NIIT Technologies Limited. The Commission found the merger unlikely to cause an appreciable adverse effect on competition given the parties' insignificant market share in the IT and ITES sector.
What did the court decide?
The proposed combination involving acquisition of up to 71% shareholding of NIIT Technologies Limited by HULST B.V. is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2019/04/658)
Dated: 26th April, 2019
Notice under Section 6 (2) of the Competition Act, 2002 given by HULST B.V.
CORAM:
Mr. Ashok Kumar Gupta Chairperson
Mr. U. C. Nahta Member
Ms. Sangeeta Verma Member
Order under Section 31 (1) of the Competition Act, 2002
- On 11th April, 2019, the Competition Commission of India (Commission) received a Notice under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) , given by HULST B.V. (Hulst /Acquirer) . The Notice has been filed pursuant to a three Share Purchase Agreements (SPAs)1 dated 6th April, 2019, executed by and amongst (i) Hulst, NIIT Technologies Limited ( NIIT Tech / Target ) and NIIT Limited ( SPA 1 ); (ii) Rajendra Singh Pawar, Neeti Pawar, Pawar Family Trust and NIIT ( SPA 2 ) and (iii) Vijay Kumar Thadani, Renuka Kumar Thadani, Thadani Family Trust and NIIT (SPA 3) , and Public announcement ( PA) dated 6th April, 2019. (Hereinafter, Acquirer and Target are collectively referred to as Parties ).
Issues for consideration
2 issues framed by the court
Whether the proposed combination involving acquisition of up to 71% equity shareholding of NIIT Technologies Limited by HULST B.V. is likely to have an appreciable adverse effect on competition.
Whether the Commission should approve or reject the proposed combination under the Competition Act, 2002.
Parties & counsel
- applicant
HULST B.V.
Coram
Ashok Kumar Gupta
U. C. Nahta
Sangeeta Verma
Case details
As recorded by the court registry
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