CCI clears Alstom-Triton deal

Fair trade regulator CCI has approved French major Alstom's proposed sale of auxiliary components

RELATED ARTICLES

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E-mail ID will not be published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

  • Media obsession with his layoff smacks of lack of focus

    Pretty much like his abrupt vanishing act had done 50-odd days ago, Congress vice president Rahul Gandhi’s return on Thursday from a long and myster

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Riskfactor</b>: Oblivious to reality

The hostile media effect, originally deemed the hostile media phenomenon, ...

Zehra Naqvi

Sensual wordplay

The student of literature looks for form and structure. The ...

Bubbles Sabharwal

The bitter cold heart of life

Life has a heart just as we do. Most times ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture