Total Holdings Sas
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where Total Holdings SAS would acquire 37.40% of Adani Gas Limited. The Commission found no likely appreciable adverse effect on competition in India based on a review of the parties' market presence in the natural gas sector.
What did the court decide?
Approval granted for the combination 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-2019/10/694)
28.11.2019
Notice u/s 6 (2) of the Competition Act, 2002 Filed by Total Holdings SAS
CORAM:
Mr. Ashok Kumar Gupta Chairperson
Ms. Sangeeta Verma Member
Mr. Bhagwant Singh Bishnoi Member
Order under Section 31(1) of the Competition Act, 2002
- On 16.10.2019, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”) filed by Total Holdings SAS (“ Total Holdings ” / “ Acquirer ”). The proposed combination relates to acquisition of 37.40% of the paid up share capital and joint control of Adani Gas Limited (“ AGL ”/ “ Target ”) by Total Holdings (“ Proposed Combination ”). The notice was given pursuant to inter alia , Share Purchase Agreement ( SPA ) dated 14.10.2019 executed between Sellers1 and Total Holdings (“ Transaction Document ”).
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of 37.40% of Adani Gas Limited by Total Holdings is likely to have an appreciable adverse effect on competition in India.
Whether the proposed combination requires approval under Section 31(1) of the Competition Act, 2002.
Assessment of potential vertical and horizontal relationships in the natural gas market downstream and upstream segments.
Parties & counsel
- applicant
Total Holdings SAS
Coram
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bishnoi
Case details
As recorded by the court registry
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