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India – CCI Approves The Merger Of Caelum Investments Into InterGlobe Aviation.

12 September, 2014

 


On July 30, 2014, CCI approved the merger of InterGlobe Aviation Limited (‘InterGlobe Aviation’) and Caelum Investment LLC (‘Caelum’), which was approved by the Board of directors of InterGlobe Aviation on May 28, 2014. The proposed scheme of amalgamation involved the cancellation of all the equity shares of Caelum in InterGlobe Aviation in lieu of which new equity shares in InterGlobe Aviation would be issued to Caelum which were equal to those originally held by Caelum and in proportion to their inter-se voting units in Caelum.

 
CCI noted that InterGlobe Aviation is involved in the business of providing air transport services under the brand name ‘IndiGo’ and Caelum is an investment holding company registered in the State of Delaware, USA. CCI further noted that Caelum, which held 47.88% of the equity share capital in Interglobe Aviation, did not have any investments in any other air transport service company. CCI approved the scheme of amalgamation as it observed that it was not likely to cause an AAEC since there were no horizontal overlaps or vertical relationships between the companies.

 

AZB

 

For further information, please contact:

 

Zia Mody, AZB & Partners
zia.mody@azbpartners.com

 

Abhijit Joshi, AZB & Partners 
abhijit.joshi@azbpartners.com

Shuva Mandal, AZB & Partners 
shuva.mandal@azbpartners.com

 

Samir Gandhi, AZB & Partners
samir.gandhi@azbpartners.com

Percy Billimoria, AZB & Partners 
percy.billimoria@azbpartners.com

 

Aditya Bhat, AZB & Partners 
aditya.bhat@azbpartners.com

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