Competition Commission of India has approved the acquisition of Fosroc Top One Limited, Fosroc Top Two Limited, and Fosroc Supply FZE by Starcin Holding France SAS (Starcin). The Proposed Combination involves the acquisition of 100% of the issued shares of Fosroc Top One Limited, Fosroc Top Two Limited, and Fosroc Supply FZE (collectively, ‘Target Companies’) by Starcin, a wholly owned subsidiary of Compagnie de Saint-Gobain S.A. (Saint-Gobain). The Target Companies are wholly owned subsidiaries of Fosroc Group Holdings Limited (Fosroc).

Starcin provides an array of services, including strategy and commercial development, legal, financial, accounting, information technology, and management services, for the benefit of its subsidiary companies or any other companies in which it holds a direct or indirect stake. Additionally, Starcin is involved in acquiring, subscribing, holding, managing, and disposing of shares and securities.

Saint-Gobain’s business lines include the production and sale of products, solutions and services for construction and housing, including building glass, plaster boards, ceilings, insulation products, mortars and building chemicals, and pipes. Saint-Gobain also manufactures high-performance solutions such as (a) automotive glass; (b) ceramics; (c) abrasives; and (d) performance plastics.

Fosroc is an international manufacturer and supplier of high-performance, low-volume chemicals for the construction industry, focusing on certain building materials and chemical-based admixtures. Fosroc Top One and Fosroc Top Two are holding companies incorporated in the United Kingdom and Fosroc Supply is a trading company incorporated in the United Arab Emirates.

Detailed order of the Commission will follow.

Acquisition approval: Starcin to acquire multiple Fosroc entities, consolidating holding and trading operations under Saint Gobain. The Commission authorised Starcin, a wholly owned subsidiary of Saint Gobain, to acquire 100% of the shares of Fosroc Top One Limited, Fosroc Top Two Limited and Fosroc Supply FZE, transferring two UK holding companies and one UAE trading company from Fosroc Group Holdings Limited to Starcin; Starcin provides corporate services and investment holding functions and Fosroc supplies specialty construction chemicals, with a detailed Commission order to follow.