Bpifrance Participations S.A.
Case brief
What is this about?
The Competition Commission of India examined a proposed acquisition where Bpifrance Participations would acquire shares in Technip Energies. Finding no horizontal or vertical overlaps in the Indian market, the Commission held the combination unlikely to affect competition dynamics and approved it.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
COMPETITION COMMISSION OF INDIA
(Combination Registration No.C-2021/01/809)
24.02.2021
Notice under Section 6 (2) of the Competition Act, 2002 filed by Bpifrance Participations 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 19.01.2021, Competition Commission of India ( Commission ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ) filed by Bpifrance Participations S.A. ( Bpifrance Participations/ Acquirer ). The notice has been filed pursuant to the Share Purchase Agreement ( SPA ) dated 07.01.2021 executed between TechnipFMC plc ( TechnipFMC / Seller ) and Acquirer. In addition to the SPA, the Seller, Acquirer and Technip Energies B.V. ( Technip Energies/ Target ) have also entered into a Relationship Agreement dated 07.01.2021 pursuant to which the Acquirer will be entitled to certain rights in the Target.
Issues for consideration
3 issues framed by the court
Whether the proposed combination between Bpifrance Participations and Technip Energies is likely to cause any appreciable adverse effect on competition in India.
Whether the proposed shareholding acquisition creates horizontal or vertical overlaps in the relevant markets.
Whether the combination receives approval under Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
Bpifrance Participations S.A.
- respondent
TechnipFMC plc
- respondent
Technip Energies B.V.
Coram
Case details
As recorded by the court registry
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