Summary: CCI invites comments from public in respect of the proposed acquisition of the electrical and automation business of Larsen & Toubro Limited by Schneider Electric India Private Limited and MacRitchie Investments Pvt. Limited
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).