The Competition Commission of India (CCI) approved the proposed INR 14,000 crore acquisition of Larsen & Toubro Limited’s Electrical and Automation business by Schneider Electric India Private Limited and MacRitchie Investments Pte. Ltd. (an investment holding company of Temasek Holdings), subject to compliance with certain modifications. The transaction has been approved after 11 months of detailed review and scrutiny of the transaction, including a Phase 2 investigation. The CCI’s detailed order is awaited. Shardul Amarchand Mangaldas & Co. advised Larsen & Toubro Limited in this transaction on the corporate and competition law aspects.

The Competition team was led by partners Shweta Shroff Chopra and Aparna Mehra and supported by Gauri Chhabra (Partner), Ritwik Bhattacharya (Senior Associate), Saattvic (Senior Economist), Neetu Ahlawat (Associate), Kajori De (Associate) and Abhiruchi Jhawar (Associate). Strategic inputs were provided by Pallavi Shroff, Managing Partner.

The Corporate team advising on the transaction was led by Iqbal I. Khan (Partner) and supported by Arka Banerjee (Partner), Faraz Khan (Principal Associate) and Tanavi Vasudevan (Senior Associate).