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Siemens-Siemens Power Engineering amalgamation cleared

By  |  April 4, 2012

The Competition Commission of India has approved an amalgamation between Siemens and Siemens Power Engineering (SPEL). SPEL provides engineering, procurement and construction services for power plants. The CCI noted that SPEL provides services only to Siemens Group companies, and that this will continue to be true after the amalgamation.

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    The terms of the deal call for a share swap ratio of six equity shares of Siemens for every 13 equity shares of SPEL. The vote for shareholder approval will be held on April 11.

    Full content: The Hindu Business Line

     

    Related content: Merger Control in India: Partial Implementation of the ICN Recommended Practices (Neil Campbell & Sorcha O’Carroll, McMillan)