Competition Commission of India to be given powers to review mergers in June 2011 – UPDATE
Following consultations with various stakeholders, the Competition Commission of India (CCI) has published the final merger regulations today.
The merger regulations relate to important procedural aspects of the CCI's review of mergers, but do not address substantive issues. The regulations take effect on 1 June 2011.
The CCI's draft of these regulations gave rise to several questions. We will shortly be sending you a briefing note explaining what the final merger regulations mean for M&A transactions.
One immediate observation is that the regulations make it clear that transactions need to be notified only where the binding document is executed on or after 1 June 2011. This resolves a key concern in respect of agreed, but not yet completed, transactions.
For further information, please contact one of the following:
(+44) 20 7456 5972
(+44) 20 7456 3514
(+32) 2 50 50227
(+1) 212 903 9007