India: Carlsberg gets competition watchdog approval to acquire additional 33.33% in Carlsberg South Asia Pte Ltd
Competition Commission of India (CCI) on September 26 cleared Carlsberg Breweries' proposed acquisition of an additional 33.33 per cent stake in Carlsberg South Asia Pte Ltd, the Business Standard reported.
The deal has been cleared under the green channel route.
The proposed transaction entails Carlsberg Breweries A/S (CBAS) buying an additional 33.33 per cent of equity share capital (on a fully-diluted basis) in Carlsberg South Asia Pte Ltd (CSAPL).
CBAS is involved in the business of manufacturing, marketing, and distributing alcoholic beverages under numerous brands worldwide.
The company is present through Carlsberg India Pvt Ltd (CIPL) and does not have any other direct or indirect business presence in the country.
CSAPL is the holding company of South Asian Breweries Pte Ltd, Singapore, which, in turn, is the holding company of CIPL.
"There are no horizontal overlaps, vertical/complementary links between the activities of the parties and their respective groups/affiliates," CCI said.
"The proposed transaction is being filed under the green channel route," it said.
Under the green channel route a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair-trade regulator.
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