Total S.A.
Case brief
What is this about?
The Competition Commission of India examined a combination notice filed by Total S.A. regarding the proposed joint venture involving Adani Green Energy Limited solar assets. The Commission approved the combination, finding no appreciable adverse effect on competition due to insignificant market shares.
What did the court decide?
Approval of the Proposed Combination under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2020/03/736)
1st April, 2020
Notice under Section 6(2) of the Competition Act, 2002 filed by Total S.A.
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 13th March, 2020, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), filed by Total S.A. ( Acquirer ). Notice has been given pursuant to the execution of the Binding Term Sheet inter alia between Adani Green Energy Limited ( AGEL ) and an affiliate of Acquirer, on 5th February, 2020. The Acquirer has subsequently made voluntary submissions on 18th March, 2020, 25th March, 2020 and 30th March, 2020.
- The Proposed Combination envisages incorporation of a company ( JV ) by AGEL and subsequent transfer of:
Issues for consideration
2 issues framed by the court
Whether the proposed combination of assets between Adani Green Energy Limited and an affiliate of Total S.A. is likely to cause appreciable adverse effect on competition.
Whether market share thresholds and horizontal overlap create competition concerns in the solar power generation sectors.
Parties & counsel
- applicant
Total S.A.
- other
Adani Green Energy Limited
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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