Total Se
Case brief
What is this about?
The Competition Commission of India considered a Notice under Section 6(2) regarding an indirect minority investment in Adani Green Energy Limited by Total SE. Finding insignificant market share and overlap, the Commission approved the combination. Confidentiality and revocation clauses were included.
What did the court decide?
Approvals 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-2020/12/800)
11th January 2021
Notice under Section 6 (2) of the Competition Act, 2002 given by Total SE through its subsidiary Total Renewables 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 21st December 2020, the Competition Commission of India ( ‘Commission’ ) received a Notice under Section 6(2) of the Competition Act, 2002 ( ‘Act’ ), given by Total SE through its subsidiary Total Renewables SAS (‘ Total SAS’ ) [Hereinafter, Total SE and Total SAS are collectively referred to as ‘Acquirers’ ].
- The Proposed Combination involves an indirect minority investment in the total share capital of Adani Green Energy Limited ( ‘AGEL’/ ‘Target’ ) by Total SE [Hereinafter, Acquirers and Target are collectively referred to as ‘Parties’] . The Notice was filed pursuant to the execution of Share Purchase Agreements and Framework Agreement both executed on 18th December 2020, inter alia between the Parties.
Issues for consideration
2 issues framed by the court
Whether the proposed combination between Total SE and Adani Green Energy Limited raises any competition concern.
Whether the proposed combination is likely to have an appreciable adverse effect on competition in India.
Parties & counsel
- petitioner
Competition Commission of India
Coram
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bishnoi
Case details
As recorded by the court registry
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