1. Mavco Investments Private Limited (Mavco) 2. Avenue India Emergence Pte. Ltd. (Avenue)
CCIC-2024/12/1224
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307
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Summary in terms of Regulation 13(2) of the Competition Commission of India (Combinations) Regulations, 2024 (as amended)
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A. Name of the parties to the combination
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- The parties to the Proposed Combination are:
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- a. Acquirers : Avenue India Emergence Pte. Ltd. (“ Avenue ”) and Mavco Investments Private Limited (“ Mavco ”).
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b. Target : MHM Holding Gesellschaft mit beschränkter Haftung (GmbH). B. Nature and purpose of the combination
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- Pursuant to the Share Purchase Agreement executed between MHM Beteiligungsgesellschaft mbH (“ Seller 1 ”), MHM Vermögensverwaltungs GmbH (“ Seller 2 ”) (together, the Sellers ), Mavco and Avenue dated 8 and 9 November 2024 (“ SPA ”), Avenue and Mavco had agreed to be severally responsible to acquire 100% of the shares (“ Sold Shares ”) in MHM Holding GmbH (Target) from the Sellers. The said signing of the SPA is Step-1 to the Proposed Transaction. In the subsequent steps, Avenue and Mavco would incorporate a joint venture company (to be incorporated in India), i.e., JV – India NewCo (“ JV Co ”) and assign their rights under the SPA to the joint venture company. The JV Co shall pay the cash consideration for the Sold Shares to the Sellers and also infuse cash consideration as new capital into the Target for repayment of its existing debt (“ Proposed Transaction ”).
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