India, Feb. 12 -- The Government of India has issued a release:
Competition Commission of India has approved the proposed combination involving Amundi Asset Management S.A.S. (Acquirer) and ICG Plc (Target).
The proposed combination pertains to the slump sale of the low voltage motor business of Siemens Limited (Target Business) by Innomotics India Private Limited (Acquirer).
The Acquirer is engaged in the manufacturing and supply of industrial motors (High and Medium voltage) and large drive systems (Medium voltage) to sectors such as oil & gas, metals, cement, power & marine etc. The Acquirer is part of KPS Capital Partners, LP.
The Target Business is currently owned by the Siemens Limited. It sells low voltage motors for industrial a...