Epsilon Bidco Pte. Ltd, Singapore
Case brief
What is this about?
The Competition Commission of India approved the proposed combination involving Epsilon Bidco Pte. Ltd. acquiring up to 75% shareholding in Essel Propack Limited under Section 31(1) of the Competition Act, 2002, finding no appreciable adverse effect on competition.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Act; nonetheless, non-compete obligations are not ancillary to the combination.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2019/04/660)
Dated: 3rd June, 2019
Notice under Section 6 (2) of the Competition Act, 2002 given by Epsilon Bidco Pte. Ltd.
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 29th April, 2019, the Competition Commission of India (Commission) received a notice filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) by Epsilon Bidco Pte. Ltd. (Epsilon /Acquirer) , an affiliate of funds advised or managed by the affiliates of The Blackstone Group L.P. (Blackstone) .
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition by Epsilon of up to 75% shareholding in Essel Propack Limited requires approval under Section 31 of the Competition Act, 2002.
Whether the non-compete obligations envisaged by the parties are ancillary to the proposed combination.
Parties & counsel
- petitioner
Essel Propack Limited
- petitioner
Epsilon Bidco Pte. Ltd.
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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