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Tetra Laval not penalized for failing to give notice of Alfa Laval share acquisition

By  |  April 27, 2012
Tetra Laval not penalized for failing to give notice of Alfa Laval share acquisition

The Competition Commission of India has decided not to penalize Tetra Laval for failing to give prior notice on its acquisition of shares in Alfa Laval. Since the share purchase agreement increased Tetra Laval’s holding to 23.16 percent in Alfa Laval, it triggered the notice requirement for when acquisitions lead to holdings greater than 15 percent. Tetra Laval gave notice to the CCI only after the acquisition had been completed. However, since this is the first year the rule has been implemented, the CCI decided not to impose a penalty.

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