Important UpdatesLegal Updates

CCI invites public suggestions w.r.t. proposed acquisition of electrical and automation business of L&T by Schneider & MacRitchie

CCI Update

n reference to the notice received by CCI on 16 July 2018 from Schneider Electric India Private Limited (Schneider) and MacRitchie Investments Pvt. Ltd (MacRitchie) (together Acquirers) in relation to the proposed acquisition of the electrical and automation business of Larsen & Toubro Limited (L&T). CCI further highlights that the acquisition does not include Marine Business and Servowatch Business which are also part of its ‘electrical and automation’ business. 

CCI is of the prima facie opinion that proposed acquisition is likely to have an appreciable adverse effect on competition hence, as per Section 29(3) of Competition Act, 2002 CCI invites comments/objections/suggestions with the parties who would be adversely affected or likely to be affected by the proposed combination latest by 12th December, 2018 on email: secy@cci.gov.in or on Secretary, Competition Commission of India, 10th Floor, Office Block – 1, Kidwai Nagar (East), Opposite Ring Road, New Delhi- 110023 . 

In addition, as per Section 29(2) of the Act, CCI had directed the parties to publish the details of the combination for bringing the same to the knowledge and information of public and persons affected or likely to be affected by such Acquisition. Accordingly, the parties have published the details of the proposed combination in 2018/07/586 and the same is also hosted on the respective websites of the parties.

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