Real Estate

CCI gives nod for NAM Estates and Embassy One merger into Indiabulls Real Estate

Our Bureau New Delhi | Updated on February 25, 2021

The Competition Commission of India (CCI) has approved a combination involving the merger of NAM Estates Private Ltd (NAM Estate) and Embassy One Commercial Property Developments Private Ltd (EOCPDPL) into Indiabulls Real Estate Ltd (IBREL).

The proposed combination will be carried out through a series of inter-connected steps namely (i) certain identified assets, securities and/or investments of certain entities of the Embassy group will be transferred to Embassy Group entity(ies); (ii) certain third party investors will swap their shareholding in these identified assets, securities and / or investments of certain entities of the Embassy group, for shareholding in NAM Estates and EOCPDPL; (iii) the restructured NAM Estates and EOCPDPL will merge with and into IBREL. and IBREL will issue shares to all existing shareholders of NAM Estates and EOCPDPL, an official release said.

NAM Estates is engaged in the business of real estate development of commercial and residential assets and other related activities. NAM Estates belongs to the Embassy group of companies.

EOCPDPL is engaged in the business of providing common area maintenance services to construction and development of real estate projects (both residential and commercial) and other related activities. EOCPDPL belongs to the Embassy group of companies.

IBREL is a publicly listed, real estate company in India.

TECHNIP ENERGIES

In another move, the CCI has approved the proposed combination involving acquisition of stake in Technip Energies B.V. by Bpifrance Participations S.A.

Pursuant to the Share Purchase Agreement between the TechnipFMC plc ( and the Bpifrance Participations S.A., the latter will acquire a minimum of 11.82 per cent of Technip Energies B.V.’s outstanding shares and a maximum of 17.25 per cent of the outstanding shares. As a result of the proposed combination, Bpifrance will increase its shareholding in Technip to 14.07-20 per cent, an official release said.

The Bpifrance Participations S.A. is indirectly jointly owned by EPIC Bpifrance and the CDC group (through Bpifrance S.A.).

Acquirer is a public financial group of companies aimed at financing and developing companies operating in France.

Technip Energies B.V belongs to the TechnipFMC plc group. .

It is engaged in the provision of EPC services and internal support services in India including design, engineering, consultancy, fabrication, supply, erection and commissioning of plants in the chemical, refining and petrochemical, polymer, oil and gas, fertilizers and other allied industries, the release added.

Published on February 25, 2021

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