Ministry of Corporate Affairs

Posted On: 22 NOV 2018 11:39AM by PIB Delhi

On 16th July, 2018, the Competition Commission of India (CCI)  received a notice 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) but excluding the Marine Business and Servowatch Business (which are also part of its ‘electrical and automation’ business).

The Commission is of the prima facie opinion that the proposed acquisition is likely to have an appreciable adverse effect on competition and, accordingly, has directed the Acquirers, in terms of Section 29(2) of the Competition Act, 2002, to publish 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.

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. The said details are also available on the website of the Commission (www.cci.gov.in).

As per the provisions of Section 29(3) of the Act, the Commission invites comments/objections/suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination. The same may be addressed to the Secretary, Competition Commission of India, 10th Floor, Office Block – 1, Kidwai Nagar (East), Opposite Ring Road, New Delhi- 110023 or through email: [email protected], latest by 12th December, 2018.

The Commission is not likely to consider unsubstantiated objections.

Competition concern over proposed electrical and automation acquisition prompts public consultation and review under competition law. The Commission finds a prima facie appreciable adverse effect on competition from the proposed acquisition of L&T's electrical and automation business by Schneider and MacRitchie (excluding Marine and Servowatch) and has directed publication of combination details. It invites written comments, objections or suggestions from persons likely to be affected, provides submission channels, and states it will not consider unsubstantiated objections.