Acquisitions approved by CCI on 28 November 2019
Competition Commission of India (CCI) is responsible for enforcing The Competition Act,2002 throughout the country. It is a statutory body under the Government of India founded on 14 October 2003, ensures that healthy competition is maintained by avoiding unfair practices with the help of modern competition laws.
The Competition Act, 2002 replaced The Monopolies and Restrictive Trade Practices Act of 1969. Under the Act, The Competition Commission of India was established.
Acquisitions approved on November 28, 2019, under section 31(1) of ‘The Competition Act,2002’ are:
1)Amazon.com NV Investment Holdings LLC acquires 49% of Future Coupons Limited.
2)The French oil company, Total Holdings SAS acquires a 37.4% stake of Adani Gas Limited.
3)Mitsubishi-Hitachi Metals Machinery acquire Siemens 49 percent stake in Primetals Technologies.
Category: Economy & Banking Current Affairs