The deal will help SABIC Research and Technology in R&D activities to support its group business.
In its order dated January 30, Competition Commission of India (CCI) said that "the proposed combination is not likely to have an appreciable adverse effect on competition in India".
CCI noted that both SABIC Research and GE India Technology are the service providers to their respective group entities.
"...the assets, which are being acquired by SABIC Research and Technology pursuant to the proposed combination, are used by GE India Technology Centre for rendering R&D services to other GE Group companies and as stated in the notice, SABIC Research also intends to use the assets for rendering R&D services only to the SABIC Group companies," CCI said.
According to the regulator, SABIC Research is a company incorporated in India and is engaged in R&D activities in chemicals and polymers supporting the business units of the SABIC Group -- a producer of commodity-grade plastics as well as high-grade engineering thermoplastic products.
Saudi Basic Industries Corporation (SABIC), based in Saudi Arabia, indirectly holds 100 percent shares in the entity.
Meanwhile, GE India Technology part of US conglomerate GE and provides IT enabled services and R&D activities among others to the group's entities.
Following the execution of an "Asset Transfer Agreement" between GE India Technology and SABIC Research on December 17, 2012, a notice for approval of the deal was filed with the regulator on January 11.
Anda sedang membaca artikel tentang
SABIC Research-GE India Tech deal gets CCI green signal
Dengan url
https://gayafashionshow.blogspot.com/2013/02/sabic-research-ge-india-tech-deal-gets.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
SABIC Research-GE India Tech deal gets CCI green signal
namun jangan lupa untuk meletakkan link
SABIC Research-GE India Tech deal gets CCI green signal
sebagai sumbernya
0 komentar:
Posting Komentar