Brussels – The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over SB Energy Holdings Limited (India) by SoftBank Group Corp. (Japan), Bharti Overseas Private Limited (India) and Hon Hai Precision Industry Co. (Taiwan). SB Energy develops, constructs and operates renewable energy projects. SoftBank is an internet company which provides a comprehensive range of telecommunication services and products, primarily in Japan and the USA. Bharti is a holding and investment company which invests and provides services in different sectors, such as telecommunications, hospitality, real estate development and also invests in equities, securities and instruments. Hon Hai provides third-party electronic manufacturing services to original equipment manufacturers of electronic products such as computers, mobile phones, video game consoles and televisions. The Commission concluded that the proposed transaction would raise no competition concerns as SB Energy will operate only in India. The transaction was examined under the simplified merger review procedure.
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