2452991 Ontario Limited
Case brief
What is this about?
The Competition Commission of India examined a combination registration for the acquisition of Trust units by OTPP 1. After assessing potential horizontal and vertical overlaps in road infrastructure, the Commission concluded no appreciable adverse effect on competition was likely and approved the combination.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2024/05/1148)
3rd September 2024
Notice under Section 6(2) of the Competition Act, 2002 given by 2452991 Ontario Limited
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 17th May 2024, the Competition Commission of India ( Commission ) received a Notice under Section 6(2) of the Competition Act, 2002 ( Act ) given by 2452991 Ontario Limited ( OTPP 1 / Acquirer ). The Notice was filed based on the binding Commitment Letter dated 12th March 2024, issued by OTPP 1 to the Highway Infrastructure Trust ( HIT / Target Trust ) which was agreed to and counter-signed by Highway Concessions Private Limited ( HC One ), the investment manager of the Target Trust.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of additional units by OTPP 1 in the Target Trust is likely to have appreciable adverse effect on competition.
Whether the proposed combination involves horizontal or vertical overlaps in the road infrastructure sector.
Whether the market share of the combined entities justifies approval under Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
2452991 Ontario Limited
- respondent
Highway Infrastructure Trust
- respondent
Highway Concessions Private Limited
Coram
Case details
As recorded by the court registry
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