Amarchand Mangaldas has represented Japanese manufcaturing company Aica Kogyo Company Limited (Aica Japan) and Aica India Laminates India Private Limited (Aica India) in obtaining merger control clearance from the Competition Commission of India (CCI) in relation to the proposed acquisition of the Bombay Burmah Trading Corporation (BBTC).
BBTC’s Sunmica division will now be sold to Aica Japan’s Indian subsidiary Aica India. Money Control reported that Aica paid nearly Rs. 100 crore ($25 million) to acquire the Sunmica division.
The CCI in its 3 page order has in para eleven said “given the presence of a large number of players with fragmented market shares in the surfacing/decorative laminates business in India, the proposed combination is not likely to have an appreciable adverse effect on competition in India”.
Amarchand Mumbai competition law team led by Principal Associate Nisha Kaur Uberoi and Associates Gauri Chhabra and Shruti Murali represented Aica before the CCI.
Amarchand had filed an application interms of Regulation 14 of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 and obtained a clearance from CCI within 16 days of filing its application.
BBTC has been divesting its non core assets and earlier this month the company sold its Spring Division to Japanese company NHK Automotive.
A copy of the order of CCI is available below.