Veolia Environnement S.A.
Case brief
What is this about?
The Competition Commission of India examined the proposed acquisition of the water business of Suez by Veolia and a consortium of investors. The Commission found no overlaps between the parties and accepted their safeguards against coordination. It cleared the transaction without appreciable adverse effect on competition.
What did the court decide?
The proposed combination was cleared as unlikely to cause appreciable adverse effect on competition in India.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No.C-2021/07/852)
Public Version
23.11.2021
Notice jointly given by Veolia Environnement S.A., Meridiam, Global Infrastructure Management, LLC, Caisse des Dépôts et Consignations and CNP Assurances pursuant to an inquiry under Section 20(1) of the Competition Act, 2002.
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 15.07.20211 , the Competition Commission of India ( Commission ) received a notice filed by Veolia Environnement S.A. ( Veolia ) in relation to the proposed acquisition of at least 50% + 1 of the share capital of Suez S.A. ( Target/Suez ). The notice was filed pursuant to the initiation of inquiry by the Commission under Section 20(1) of the Competition Act, 2002 ( Act ), vide letter dated 03.02.2021. Initially, the notice was given only by Veolia. Subsequently, other acquirers, namely, Meridiam, Global Infrastructure Management, LLC ( GIP ), Caisse des dépôts et consignations ( CDC ) and
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of Suez by Veolia and its consortium members requires approval and whether it is likely to cause appreciable adverse effect on competition.
Whether the submission regarding lack of horizontal or vertical overlaps and safeguards against coordination concerns satisfies the requirements of the Act.
Whether the Combinations, after structural changes involving the creation of New Suez, can be cleared without an appreciable adverse effect on competition in India.
Parties & counsel
- appellant
Veolia Environnement S.A.
- applicant
Meridiam
- applicant
Caisse des Dépôts et Consignations
- applicant
Global Infrastructure Management, LLC
- applicant
CNP Assurances
Case details
As recorded by the court registry
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