India:
CCI Approves Acquisition Of Approximately 7.98% Of The Total Outstanding Equity Share Capital Of Ajax By Kedaara
27 August 2019
AZB & Partners
To print this article, all you need is to be registered or login on Mondaq.com.
On June 20, 2019, CCI approved the acquisition of approximately
7.98% of the total outstanding equity share capital of Ajax
Engineering Private Limited ('Ajax') by
Kedaara Capital Fund II LLP ('Kedaara')
along with right of representation on the Board of Directors of
Ajax ('Proposed
Combination').1
While Kedara is a private equity fund having no current presence
in India, Ajax is a private limited company, engaged in the
manufacture and sale of concreting equipment within India, under
the brand name of Ajax.
CCI approved the Proposed Combination, considering that there
were no direct or indirect horizontal or vertical overlaps between
the business activities of Ajax and Kedaara. Therefore, the
Proposed Combination was unlikely to cause any AAEC in India.
Footnote
[1] Combination Registration No.
C-2019/06/666
Published In:Inter Alia Special Edition- Competition Law -
August 2019 [
English
Date: August 7, 2019
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.
POPULAR ARTICLES ON: Corporate/Commercial Law from India
Private Equity And M&A In India: What To Expect In 2024?
Nishith Desai Associates
2023 was a year of unexpected headwinds, such as the hiking of interest rates by governments across the world, the banking sector instability in the US and Europe, the Russia-Ukraine and Israel-Hamas conflict, to name a few.
Revisiting Representation And Warranty Clauses
Obhan & Associates
Clauses related to representations, warranties and indemnifications are widely negotiated clauses of commercial contracts especially in M&A transactions. The interests of the parties to a contract typically do not align with respect ...
A Guide To Share Purchase Agreements
Gravitas Legal
Share Purchase Agreement is an agreement entered into between the buyer and seller(s) of shares of a target company. Usually Share Purchase Agreements entail that the buyer would be taking over...
ESOPs And SARs: From Ownership To Appreciation
Alaya Legal
Louis Ortho Kelso, a political economist and lawyer, back in 1956, created the first employee stock ownership scheme based on his belief that the ownership of a company...