PHL Holdings-Piramal Enterprises deal gets CCI approval

Fair trade regulator CCI has approved the proposed amalgamation of PHL Holdings and Piramal Enterprises Ltd (PEL), saying the deal would not impact competition. Considering the facts on record, CCI said it is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India. "It is observed that the proposed combination is an arrangement between enterprises belonging to the same group and that the control over the activities carried on by PEL before and after the proposed combination would remain unchanged," the order, dated December 27, said.

The Competition Commission of India (CCI) keeps a tab on anti-competitive practices in the market. Piramal Enterprises Ltd is into pharmaceuticals, financial services and information management sectors. PHL Holdings Pvt Ltd is an unlisted investment holding company and 100 per cent of the stake is held by Piramal Management Services Pvt Ltd.

Piramal Enterprises is a listed company. Promoters hold 53.04 per cent stake in the firm, out of which 48.73 per cent shareholding is held by PHL Holdings while the remaining is with individuals, HUF and Trust etc. "... 48.73 per cent equity share capital of Piramal Enterprises, which is currently indirectly held by Piramal Management Services Pvt Ltd, pursuant to the implementation of the proposed combination, will be directly held by Piramal.

Also read: Sukhani upbeat on IT, pharma sectors

Management Services Pvt Ltd," the order said. The proposed combination was approved by the boards of the two entities on November 5. The notice, seeking approval, was jointly filed by PHL Holdings and Piramal Enterprises on December 3. After that, CCI had asked the two parties to remove some defects in the notice and furnish certain information. The same was submitted on December 20.

Anda sedang membaca artikel tentang

PHL Holdings-Piramal Enterprises deal gets CCI approval

Dengan url

https://citraasa.blogspot.com/2012/12/phl-holdings-piramal-enterprises-deal.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

PHL Holdings-Piramal Enterprises deal gets CCI approval

namun jangan lupa untuk meletakkan link

PHL Holdings-Piramal Enterprises deal gets CCI approval

sebagai sumbernya