On March 17 2025, the Competition Commission of India (CCI) has approved the following proposals:
i.Acquisition of London (the United Kingdom, UK)-based global mining company, Anglo American plc’s steel-making coal portfolio in Australia by Peabody MNG Pty Ltd. and Peabody SMC Pty Ltd.
ii.Acquisition of 100% shareholding each of O2 Power Midco Holdings Pte. Ltd. and O2 Energy SG Pte. Ltd by JSW Neo Energy Limited which is100% owned subsidiary of JSW Energy Limited (JEL) which belongs to the JSW Group.
iii.Acquisition of a shareholding Aurangabad (Maharashtra)-based Dhoot Transmission Private Limited (DTPL) by BC Asia Investments XV Limited and BC Asia Investments XVI Limited.
iv.Acquisition of Jaipur (Rajasthan)-based Uprising Science Private Limited, by Mumbai (Maharashtra)-based Hindustan Unilever Limited (HUL), a leading Fast Moving Consumer Goods (FMCG) company.
v.Tata Sons proposal to acquire additional 10% stake in Direct-to-Home (DTH) provider Tata Play from Baytree Investments (Mauritius) Pte Limited.
CCI Approved Acquisition of Anglo American’s Australia Coal Assets by Peabody
The CCI has approved the acquisition of London (the United Kingdom, UK)-based global mining company, Anglo American plc’s (Anglo) steel-making coal portfolio in Australia (Target Business) by Peabody MNG Pty Ltd. (Peabody MNC) and Peabody SMC Pty Ltd. (Peabody SMC).
- Both these acquirers are special-purpose vehicles (SPVs) formed for this acquisition and owned by the United States of America(USA) based Peabody Energy Corporation (Peabody).
Key Points:
i.The deal includes the transfer of key assets and businesses from Anglo American’s Australian operations, strengthening Peabody’s position in the high-demand metallurgical coal market.
ii.This strategic acquisition marks a significant expansion for Peabody Group, an international producer and supplier of metallurgical and thermal coal.
CCI Approved 100% Acquisition of O2 Power Entities by JSW Neo Energy Limited
The CCI has approved acquisition of 100% shareholding each of O2 Power Midco Holdings Pte. Ltd. (O2 Midco) and O2 Energy SG Pte. Ltd (O2 Energy) by JSW Neo Energy Limited (JSW Neo), 100% owned subsidiary of JSW Energy Limited (JEL) which belongs to the JSW Group.
- The deal, which grants JSW Neo full ownership of the O2 Power entities, is set to bolster the company’s Renewable Energy (RE) portfolio, particularly in wind and solar power generation.
- The move aligns with JSW Energy’s ambitious goal of achieving 20GW of generation capacity by 2030.
Key Points:
i.In December 2024, JSW Neo Energy announced that it will acquire 4,696 MegaWatt (MW) Renewable Energy (RE) platform from O2 Power Pooling Pte Limited, which includes the acquisition of O2Midco and O2 Energy, worth Rs 12,468 crore.
ii.Of the total RE capacity of 4,696 Mega Watt(MW), 2,259 MW will be operational by June 2025; 1,463 MW is currently under construction and an additional 974 MW will start by June 2027.
CCI Approved Acquisition of Shareholding in DTPL by Bain Capital’s Subsidiaries
The CCI has approved the acquisition of a shareholding of Aurangabad (Maharashtra)-based Dhoot Transmission Private Limited (DTPL) (Target company) which is engaged in the manufacturing and sale of auto-components in the electrical and electronics category (E & E category) such as, wiring harness, automotive switches, electronic sensors, among others by BC Asia Investments XV Limited and BC Asia Investments XVI Limited(which are collectively referred as Acquirers).
- Both these acquirer companies are indirectly owned and controlled funds managed by Boston (Massachusetts, USA)-based Bain Capital Partners LLC, a leading private equity firm.
CCI Approved Acquisition of Uprising Science Private Limited by Hindustan Unilever Limited
The CCI has approved the acquisition of Jaipur (Rajasthan)-based Uprising Science Private Limited, which is primarily engaged in the manufacturing and sale of beauty and personal care products, among other under its parent company name ‘Minimalist’ by Mumbai based Hindustan Unilever Limited (HUL), a leading Fast Moving Consumer Goods (FMCG) company which owns over 50 brands, including Lakme, Lux, Knorr, among others.
- As per the proposed transaction, HUL (Acquirer) will buy 90.5% stakes of Uprising Science Private Limited (Target) and will acquire the remaining 9.5% stakes of the target company in about 2 years from the completion date.
Key points:
i.In January 2025, HUL signed and executed a share purchase and subscription agreement for the acquisition of 90.5% shareholding of target company, including secondary buyout for a cash consideration of Rs 2,670 crore at a pre-money valuation of Rs 2,955 crore.
ii.Also, the acquirer company will make a primary investment of Rs 45 crore with an eventual acquisition of the remaining 9.5% of Uprising’s shareholding.
CCI Approved Tata Son’s Proposal for Acquisition of Additional 10% Stake in Tata Play from Temasek
The CCI has approved Mumbai (Maharashtra)-based investment holding company of the Tata Group, Tata Sons Private Limited’s (Tata Sons) proposal to acquire additional 10% stake in Mumbai -based Direct-to-Home (DTH) provider Tata Play Limited (Tata Play) from Singapore-based wealth fund Temasek Holdings Private Limited which is owned by Baytree Investments (Mauritius) Pte Limited.
- Tata Sons (Acquirer) is registered as a core investment company with the Reserve Bank of India (RBI) and classified as a ‘Systemically Important Non-Deposit Taking Core Investment Company’.
- This move has increased Tata Sons’ stake in the entertainment content distribution platform to 70%. Tata Sons acquired the shares for around USD 100 million, giving Tata Play a valuation of USD1 billion, while Walt Disney retains the remaining 30% ownership.
Recent Related News:
In January 2025, the Competition Commission of India (CCI) has approved the acquisition of 100% shareholding of Gurugram (Haryana)-based Del Monte Foods Private Limited (DMFPL), primarily engaged in manufacture and sale of packaged foods by Gurugram (Haryana)-based Agro Tech Foods Limited (ATFL), a publicly listed company engaged in the business of manufacturing, marketing and selling of broad range of food products and edible oils, worth Rs 1,300 crore.
