Zonnebaars Netherlands B.V.
Case brief
What is this about?
The Competition Commission approved a proposed acquisition where Zonnebaars would acquire up to 65.8% equity of Indira IVF via a share purchase and a potential amalgamation involving a Promoter Group held entity.
What did the court decide?
The Commission directs the Secretary to communicate this order approving the Proposed Combination to the notifying parties.
What the court decided
COMPETITION COMMISSION OF INDIA Combination Registration No. C-2023/08/1050
3rd October 2023
Notice under Section 6(2) of the Competition Act, 2002 jointly given by Zonnebaars Netherlands B.V., Indira IVF Hospital Private Limited, Spaceway Wellness Private Limited , Dr. Kshitiz Murdia, Dr. Ajay Murdia and Dr. Nitiz Murdia
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Order under Section 31(1) of the Competition Act, 2002
- On 18th August 2023, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), jointly given by Zonnebaars Netherlands B.V. ( Zonnebaars/Acquirer ), Indira IVF Hospital Private Limited ( Indira IVF ) and Spaceway Wellness Private Limited ( Spaceway ). The Notice was given pursuant to inter alia execution of a Share Purchase Agreement between Indira IVF, Murdia Family1 , TA Asia Pacific Acquisitions Limited ( TA ) and Zonnebaars on 28th July 2023 ( SPA ); and a Shareholders’ Agreement between Murdia Family and Spaceway (collectively referred to as Promoter Group) , Indira IVF, TA and Zonnebaars on 28th July 2023 ( SHA ).
Issues for consideration
2 issues framed by the court
Whether the proposed combination between Zonnebaars and Indira IVF involves that would have an appreciable adverse effect on competition in any relevant market.
Whether the Commission should approve the proposed combination under Section 31(1) of the Competition Act 2002.
Parties & counsel
- applicant
Zonnebaars Netherlands B.V., Indira IVF Hospital Private Limited, Spaceway Wellness Private Limited, Dr. Kshitiz Murdia, Dr. Ajay Murdia, Dr. Nitiz Murdia
Coram
Ravneet Kaur
Anil Agrawal
Case details
As recorded by the court registry
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