Greenko Mauritius
Case brief
What is this about?
The Competition Commission of India considered a notice filed by Greenko Mauritius regarding an acquisition of Teesta Urja Limited. After reviewing market overlaps in power generation and assessing market shares, the Commission concluded the combination would not cause an appreciable adverse effect on competition and approved it.
What did the court decide?
The Commission approved the proposed combination under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
(Co m bination Registration No. C-2019/12/714)
11th March, 2020
Notice under Section 6 (2) of the Competition Act, 2002 filed by Greenko Mauritius
CORAM:
Mr. Ashok Kumar Gupta Chairperson
Ms. Sangeeta Verma Member Mr. Bhagwant Singh Bis h noi Member
Order under Section 31(1) of the Competition Act, 2002
- On 23rd December, 20 1 9, Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ” ), filed by Greenko Mauritius (“ Greenko / Acquirer ”). The notice has been filed purs u ant to the execution of Term Sheet dated 2 6 th November, 2019 (“ Term Sheet ”) betwee n Asian Infrastructure Pte. Ltd. (“ AIPL ”), V aruna Investments (“ Varuna ”), Indus Clean Energy (India) Private Limited (“ ICEPL ”), Asian Genco TUL Pte. Ltd. (“ AGTUL ”) and Greenko and share purchase agree m ent(s) have also been executed to give e ff ect to the proposed combination.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of shares in Teesta Urja Limited is likely to cause an appreciable adverse effect on competition in India.
Whether the horizontal overlaps in power generation segments between the acquirer and target enterprises define a relevant market raising competition concerns.
Whether the Commission should approve the proposed combination based on market share analysis and lack of vertical or adverse relationships.
Parties & counsel
- applicant
Greenko Mauritius
Coram
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bisnovi
Case details
As recorded by the court registry
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