INDIAN CC APPROVES DISNEY UTV TAKEOVER
30 Aug, 2011
Indian Competition Commission approves Disney’s takeover of UTV
J. Sagar Associates and Dhall Law Chamber (DLC) advised Disney in its pre-merger filing under the merger control regime of the Competition Act, 2002, and notified to the Competition Commission of India (CCI) on August 1, 2011 for its proposed acquisition of UTV Software Communications Ltd. CCI approved the INR 2000 crore takeover of UTV by Disney on August 25 without any conditions and published the order on its website.
The proposed acquisition involved analysis of the relevant markets in which both Disney and UTV have presence. Both Disney and UTV have presence in Indian entertainment and media industry. The said filing in Form-I was premised on the differentiated offerings / products of each party, to satisfy the tests prescribed in the law that the proposed acquisition will not have any appreciable adverse effect on competition in the relevant market. Disney is known for its contents creation in the English movie and Kids genre, whereas UTV is known in India for its movies and TV channels.
The JSA Competition Team comprised Senior Advisor – Amitabh Kumar; Senior Associate – Reeti Choudhary; and Associates – Vibha Dhawan, Gautam Shahi & Divya Chaturvedi.