CCI approves Krishnapatnam port acquisition by Adani Ports, SEZL

July 23, 2020 11:21 AM

CCI approves Krishnapatnam port acquisition by Adani Ports, SEZL

The Competition Commission of India has approved the acquisition of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited. The proposed combination envisages acquisition of equity shareholding along with management control of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited. Adani Ports is a customer-facing integrated port infrastructure services provider currently present across ten domestic ports in six maritime states of Gujarat...

CCI proposes amendments to combination regulations

May 16, 2020 8:49 AM

CCI proposes amendments to combination regulations

Competition Commission of India, CCI has proposed changes to combination regulations to do away with the requirement for disclosing certain non-compete restrictions while seeking the watchdog's approval.   Combinations -- generally mergers and acquisitions -- beyond a certain threshold need clearance from the regulator under the Competition Act. The CCI plans to omit part of the combination regulation that seeks information regarding non-compete restrictions agreed between the parties t...

CCI orders probe against Amazon, Flipkart over discount practices

January 14, 2020 8:38 AM

CCI orders probe against Amazon, Flipkart over discount practices

Fair trade regulator Competition Commission of India, CCI has ordered a probe against Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers. The order follows a complaint filed by Delhi Vyapar Mahasangh, whose members comprise many traders dealing in smartphones and related accessories. The traders' body accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels. In its ...

CCI clears 70% stake acquisition in SABIC by Saudi Aramco

September 27, 2019 7:57 PM

CCI clears 70% stake acquisition in SABIC by Saudi Aramco

The Competition Commission of India has given approval to the acquisition of 70 per cent stake in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company. Through this acquisition, Saudi Aramco will have sole control over SABIC.   In India, SABIC is mainly active in the supply of agri-nutrient and petrochemical products while Saudi Aramco is active in the supply of crude oil, liquefied petroleum gas, base oil and petrochemical products.   In March 2019, Saudi Aramco had announced...