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Sep 14, 2018

CCI Approves Acquisition of Siemens Project Ventures GmbH by FIH Mauritius Investments Limited*

On May 04, 2018, CCI approved acquisition of an additional 6% of the equity share capital of Bangalore International Airport Limited (‘BIAL’) by FIH Mauritius Investments Limited (‘FIH Mauritius’), from Siemens Project Ventures GmbH (‘Siemens’), pursuant to a Share Purchase Agreement executed on March 29, 2018.FIH Mauritius is an investment holding company incorporated in Mauritius for making investments in India and is not engaged in any trading or business. BIAL is a public company incorporated in India and is engaged in operation and maintenance of an international airport at Bangalore. Siemens is an entity incorporated in Germany and is engaged in provision of project finance services.CCI observed that as a result of the proposed transaction, FIH Mauritius would not acquire and Siemens would not lose any rights in BIAL including the right to nominate members on the board of BIAL. Accordingly, CCI concluded that the combination would not change the competition dynamics in any markets in which the parties were engaged and accordingly approved the proposed transaction.
*Combination Registration No. C-2018/04/564.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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