CCI clears Alstom-Triton deal

Fair trade regulator CCI has approved French major Alstom's proposed sale of auxiliary components business to European investment firm Triton, saying the deal will not have an adverse impact on competition.

Alstom's auxiliary components business would be transferred to Triton subsidiaries - Alison Bidco and Alison Propco. The two arms of Triton have been established for the purpose of the proposed transaction.

In India, the proposed deal would involve transfer of the auxiliary components business of Alstom arm in the country to an affiliate of Alison Bidco.

In an order, the Competition Commission of India (CCI) said that "the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same under...The (Competition) Act".

The Commission noted that Alstom India is engaged in the auxiliary business, while none of the portfolio companies of the Triton group operating in the country are engaged in the same.

"Further, as per the details provided in notice, there are no existing or potential vertical relationships between the auxiliary business and Triton group in India," it added.

Alstom is one of the leading players in power generation, power transmission, engineering, rail and transport sector infrastructure, among others.

The auxiliary business comprises three product lines - air pre-heaters and gas-gas heaters for thermal power generation facilities, heat transfer solutions for industrial processes and grinding mills used in industrial applications.

Alstom had entered into a share purchase agreement with the Triton firms on April 1 this year, following which the entities had approached the Commission seeking its approval the same month.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Kerala, god’s own country, will always be free spirited

    Candy is dandy, but liquor is quicker,” the celebrated American poet Ogden Nash had once said famously.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>:The over-the-top effect effect

The overconfidence effect is a bias in which someone’s subjective ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture