Aceso Company Pte. Ltd.
Case brief
What is this about?
The Competition Commission of India examined a notice regarding the proposed acquisition of HealthCare Global Enterprises Limited by Aceso Company Pte. Ltd., a Singapore-based entity with no physical presence in India. After analyzing market overlaps and the Acquirer's indirect ownership through CVC Funds, the Commission found no appreciable adverse effect on competition.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2020/06/749)
15th July, 2020
Notice under Section 6 (2) of the Competition Act, 2002 filed by Aceso Company Pte. Ltd.
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 9th June, 2020, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”), filed by Aceso Company Pte. Ltd. (“ Aceso / Acquirer ”). The notice was filed pursuant to an Investment Agreement dated 4th June, 2020, executed between Aceso, HealthCare Global Enterprises Limited (“ HCG / Target ”) and Dr. B. S. Ajaikumar, Promoter of the Target. [Hereinafter, the Acquirer and Target are collectively referred to as “ Parties ”.]
Issues for consideration
2 issues framed by the court
Whether the proposed combination between Aceso Company Pte. Ltd. and HealthCare Global Enterprises Limited is likely to have any appreciable adverse effect on competition in India.
Whether the various portfolio companies of the Acquirer have significant market share that would indicate vertical or complementary overlaps with the Target.
Parties & counsel
- petitioner
Aceso Company Pte. Ltd.
- respondent
HealthCare Global Enterprises Limited
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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