The Competition Commission of India has paved the way for Schneider Electric India Private Ltd and MacRitchie Investments to acquire the electrical and automation (EA) business of Larsen & Toubro Ltd (L&T). It has introduced some caveats while granting the approval.
CCI has reached this conclusion after an in-depth inquiry. A press note released by CCI said, “The Commission found that Schneider and L&T are the first and second leading players in terms of sales and distribution reach in the low voltage (LV) switchgear industry in India.”
It further said that their consolidation would inter alia lock a large part of the LV switchgear distributors and other downstream players with the combined entity, thereby making it difficult for new players to enter the market.
