Indorama Netherlands B.V.
Case brief
What is this about?
The Competition Commission of India approved a proposed combination under Section 31(1) of the Competition Act, 2002. The Commission found that the acquisition of shares in EPL by Indorama Netherlands B.V. would not have an appreciable adverse effect on competition as the companies operate in distinct markets with no horizontal overlap.
What did the court decide?
Approval of the Proposed Combination under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No. C-2025/03/1261
13th May 2025
Notice under Section 6(2) of the Competition Act, 2002 given by Indorama Netherlands B.V.
CORAM:
Ms. Ravneet Kaur Chairperson Ms. Sweta Kakkad Member
Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 21st March 2025, the Competition Commission of India ( Commission ) received a notice ( Notice ), under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ), given by Indorama Netherlands B.V. ( Acquirer ). The Notice has been given pursuant to execution of the Share Purchase Agreement amongst the Acquirer, Epsilon Bidco Pte. Ltd. ( Epsilon ) and EPL Limited ( Target / EPL ) on 24th February 2025 ( SPA ).
- The Proposed Combination envisages the purchase of equity shares representing 24.9% of the issued and paid-up share capital of EPL by the Acquirer from Epsilon. Further, the Acquirer will have a right to nominate one director on the board of EPL, and veto right on certain matters.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of 24.9% equity shares in EPL by Indorama Netherlands B.V. will have an appreciable adverse effect on competition in India.
Whether PET rigid packaging and HDPE flexible packaging constitute substitutable products in the relevant market.
Parties & counsel
- applicant
Indorama Netherlands B.V.
- other
Epsilon Bidco Pte. Ltd.
- other
EPL Limited
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court