On November 14, 2019, CCI approved the acquisition of additional 3.28% of the issued and paid up share capital of Delhivery Private Limited ('DPL'), a third party logistics ('3PL') player, by SVF Doorbell (Cayman) Limited ('SVFD'), which is a holding company of the SoftBank Vision Fund L.P. SVFD is an existing investor in DPL and pursuant to the acquisition, it will hold up to 25.72% of DPL's issued and paid up share capital.1
Certain entities of the Softbank group (i.e., the group to which SVFD belongs) already avail/ could use logistics/ 3PL services of various vendors (including DPL) to deliver their products. Given the minimal presence of DPL in the logistics market (i.e., market share of 0-5%) and the market for provision of 3PL services (i.e., market share of 0-5%), and the presence of several new players, CCI noted that the transaction is not likely to result in any competitive foreclosure. AZB & Partners acted for SVFD in this transaction.
1. Combination Registration No. C-2019/09/690.
Published In:Inter Alia Special Edition - Competition Law - January 2020 [ English
Date: January 17, 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.