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CCI approves acquisition of controlling stake in Forbes Enviro Solutions Limited by Lunolux Limited
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....CI approves acquisition of controlling stake in Forbes Enviro Solutions Limited by Lunolux Limited <br>News and Press Release<br>Dated:- 21-12-2021<br><BR>The Competition Commission of India (CCI) app....
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....roves acquisition of controlling stake in Forbes Enviro Solutions Limited (Target / FESL) by Lunolux Limited (Acquirer / LL) under Section 31(1) of the Competition Act, 2002. The proposed combination....
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.... pertains to the acquisition of controlling stake in FESL by LL through the primary acquisition of up to 72.56% and the subsequent acquisition of up to 26% by way of an open offer under the provisions....
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.... of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. FESL will house the Health and Safety Business of Eureka Forbes Limited - i.e., business of (a) water purifiers, (b) a....
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....ir purifiers, (c) security solutions, (d) vacuum cleaners and (e) electric air cleaning systems. The proposed combination is in the nature of an acquisition and falls under Section 5(a) of the Compet....
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....ition Act, 2002. LL LL is a special purpose vehicle incorporated by AI Global Investments (Cyprus) PCC Limited (AI Global). AI Global operates as the investment hub for Asia for all the funds manage....
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....d by Advent International. FESL FESL is presently a subsidiary of Eureka Forbes Limited (EFL). Detailed order of the CCI will follow.<BR> News - Press release - PIB....