1. Amg Green Power B.V. 2. Orix Corporation
Case brief
What is this about?
The Competition Commission of India approved a proposed combination involving the acquisition of a 20% stake in Greenko Energy Holdings by AMG Power and conversion of notes by ORIX. The Commission found no significant change in competition dynamics, noting low market share and significant constraints in downstream renewable energy segments.
What did the court decide?
The Proposed Combination is approved under Section 31(1) of the Act.
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-2025/01/1236
11th March 2025
Notice under Section 6(2) of the Competition Act, 2002 given by AM Green Power B.V. and ORIX Corporation
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Order under Section 31(1) of the Competition Act, 2002
- On 23rd January 2025, the Competition Commission of India ( Commission ) received a Notice under Section 6(2) of the Competition Act, 2002 ( Act ) given by AM Green Power B.V. ( AMG Power/Acquirer 1 ) and ORIX Corporation ( ORIX/Acquirer 2 ), collectively referred to as Acquirers. The Notice was filed pursuant to execution of inter-alia (i) Share Purchase Agreement, dated 17th January 2025, between AMG Power and ORIX ( SPA ); and (ii) Instrument Constituting Compulsory Convertible Unsecured Notes & Optionally Redeemable Unsecured Notes, dated 17th January 2025, amongst ORIX, AM Green Holdings S.À.R.L and AMG Lux ( AMG Convertible Bond Instrument ).
Issues for consideration
2 issues framed by the court
Whether the proposed combination between AMG Power and ORIX is likely to cause significant harm to competition dynamics in plausible markets.
Whether the proposed combination involving the acquisition of Greenko Energy Holdings' shareholding will result in appreciable adverse effects on competition in India.
Parties & counsel
- applicant
AM Green Power B.V. and ORIX Corporation
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Case details
As recorded by the court registry
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