India:
CCI Approves Acquisition Of Approximately 7.98% Of The Total Outstanding Equity Share Capital Of Ajax By Kedaara
27 August 2019
AZB & Partners
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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
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