Imola Acquisition Corporation (Imola)
Case brief
What is this about?
The Competition Commission of India considered a notice under Section 6(2) regarding the proposed acquisition of 100% shareholding in Ingram Micro Inc. by Imola Acquisition Corporation. The Commission found no horizontal overlaps and no vertical competition concerns. It concluded the combination would not have an appreciable adverse effect on competition and approved it under Section 31(1).
What did the court decide?
Proposed combination approved under Section 31(1) of the Act; order subject to revocation if information found incorrect; secrecy provisions of Section 57 applied.
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-2021/03/820)
7th May 2021
Notice under Section 6 (2) of the Competition Act, 2002 Given by Imola Acquisition Corporation
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 5th March 2021, the Competition Commission of India (‘ Commission ’) received a notice (‘ Notice ’) under Section 6(2) of the Competition Act, 2002 (‘ Act ’), given by Imola Acquisition Corporation (‘ Imola’/ ‘Acquirer’ ). The Notice was given pursuant to the Agreement and Plan of Merger dated 9th December 2020, entered into inter alia between Tianjin Tianhai Logistics Investment Management Co., Ltd. (‘ Seller’ ) and Imola Merger Corporation and certain other documents.
- In terms of Regulation 14 of the Competition Commission of India (Procedure in regard to the transaction of business relating to Combinations) Regulations, 2011 (‘ Combination Regulations ’), vide letters dated 25th March 2021 and 30th April 2021, Acquirer was required to provide certain information(s)/clarification(s) inter alia , relevant for the purpose of the proposed combination; response to the same was received on 31st March 2021 and 07th April 2021, and 05th May 2021.
Issues for consideration
3 issues framed by the court
Whether approval under Section 31(1) of the Act is warranted for a proposed combination involving acquisition of 100% shareholding in Ingram Micro Inc. by Imola Acquisition Corporation considering lac
Whether the proposed combination is likely to have any appreciable adverse effect on competition in India in any of the relevant market(s).
Whether confidentiality provisions under Section 57 of the Act apply to the information provided by the Acquirer.
Parties & counsel
- applicant
Imola Acquisition Corporation
- applicant
Platinum Equity Group
- respondent
Ingram Micro Inc.
Coram
Case details
As recorded by the court registry
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