CCI approves Alstom's acquisition of Bombardier Transportation
19 September 2020
The Competition Commission of India (CCI) has approved the acquisition of sole control over Bombardier Transportation’s (Bombardier Transport) by Alstom SA (Alstom), and acquisition of approximately 18 per cent and 3 per cent share capital of Alstom SA by Caisse de dépôt et placement du Québec (CDPQ) and Bombardier Inc (Bombardier), respectively.
Alstom is a French corporation globally active in the rail transport industry, offering a wide range of transport solutions. In India, it manufactures and supplies, inter alia, signalling solutions, rail electrification, rolling stock (locomotives and metros), track works, maintenance services and it also provides associated construction and engineering services through its subsidiaries, including Alstom Manufacturing India Private Limited, Alstom Systems India Private Limited, Alstom Transport India Limited, and Madhepura Electric Locomotive Private Limited.
Bombardier is a Canadian corporation globally active in the business aircraft and the rail transport industries.
Bombardier Transportation is the global rail solutions division of Bombardier. It offers a wide range of rail solutions. In India, Bombardier Transportation is engaged in the sale of rail vehicles, propulsion, control equipment and signalling solutions through its subsidiary Bombardier Transportation India Private Limited.
CDPQ is a global long-term institutional investor. It manages funds primarily for public and para-public pension and insurance plans. It invests in major financial markets, private equity, fixed income, infrastructure and real estate.
The CCI also approved the acquisition of Nutrition and Biosciences Inc (Spinco) by International Flavors and Fragrances Inc (IFF) under Section 31(1) of the Competition Act, 2002.
The proposed combination relates to the acquisition of sole control by IFF of the Nutrition and Biosciences business (N&B Business) of DuPont de Nemours, Inc. (DuPont), by means of acquiring sole control over SpinCo, a company newly formed by DuPont and to which DuPont will transfer the N&B Business.
IFF is a public company based in New York, US. IFF is active worldwide in the development, creation, and sale of flavours and fragrances that are used in consumer goods industries (such as food and beverage, personal care, or household products industries). IFF’s main business units are ‘Scent’ and ‘Taste’.
SpinCo is a recently incorporated company to which DuPont will transfer its N&B Business. The N&B Business is active worldwide in the development, production, and marketing of food science, taste, and texture applications, and biotechnology products that are used in various industries, including food and beverage, dietary supplements, home and personal care, animal nutrition and pharmaceutical excipients. The N&B Business operates through its ‘Food & Beverage’, ‘Health & Biosciences’, and ‘Pharma Solutions’ units.