India Exempts State Oil Firms Mergers From Competition Approval

Clearing the way for its plans for mega-mergers among
state-held oil and gas companies, India is now exempting such
mergers and acquisitions deals from seeking mandatory approvals
from the Competition Commission of India (CCI). All kinds of
M&A involving central public sector enterprises (CPSEs) in the
oil and gas sectors are now exempt from the required CCI approval
for five years, India’s Ministry of Corporate Affairs has said. The
exemption also extends to those companies’ wholly-owned or
partially-held subsidiaries operating…

Clearing the way for its plans for mega-mergers among
state-held oil and gas companies, India is now exempting such
mergers and acquisitions deals from seeking mandatory approvals
from the Competition Commission of India (CCI). All kinds of
M&A involving central public sector enterprises (CPSEs) in the
oil and gas sectors are now exempt from the required CCI approval
for five years, India’s Ministry of Corporate Affairs has said. The
exemption also extends to those companies’ wholly-owned or
partially-held subsidiaries operating…