Acquisition of Equity Shareholding in Haier Appliances India
CCI competition order · 28 Jan 2026
Official title
1. Indigo Cove Investments B.V. 2. Bharti Neo Ventures Limited
Summary
Check the official recordWhat changed
Indigo Cove Investments B.V. and Bharti Neo Ventures Limited propose to acquire approximately 49 percent of the equity shareholding in Haier Appliances (India) Private Limited. The transaction involves a primary subscription and a secondary purchase of shares. The parties state that no horizontal overlaps or vertical links exist between their business activities in India. The parties notify the transaction under Section 6(4) of the Competition Act, 2002. The Competition Commission of India reviews the proposed combination to determine if it causes an adverse effect on competition.
What you must do
- Notify the proposed combination to the Competition Commission of India.
Who is affected
- Indigo Cove Investments B.V.
- Bharti Neo Ventures Limited
Document text
SUMMARY OF THE PROPOSED COMBINATION IN TERMS OF REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024
A. Name of the parties to the proposed combination.
- The parties to the combination are: i. Indigo Cove Investments B.V. (Indigo Cove / Acquirer 1) ii. Bharti Neo Ventures Limited (BNVL / Acquirer 2) iii. Haier Appliances (India) Private Limited (Haier / Target)
- Indigo Cove, BNVL and Haier are collectively referred to as the “Parties”. B. Nature and Purpose of the Combination.
- The proposed transaction involves the acquisition of approximately ~49% equity shareholding in Haier together by Indigo Cove and BNVL, on a fully diluted basis, through a combination of primary subscription and secondary purchase of shares of Haier (Proposed Transaction). The Proposed Transaction is an acquisition and falls under Section 5(a)(i)(A) of the Competition Act, 2002. C. Products, Services and Business(es) of the Parties. Indigo Cove / Acquirer 1
- Acquirer 1 is an investment holding company incorporated in the Netherlands. BNVL / Acquirer 2
- Acquirer 2 is an indirect wholly owned subsidiary of the Bharti group and does not have any business operations in India or worldwide. Haier / Target
- The Target is 100% indirectly owned by Haier Smart Home Co., Ltd. It is involved in the research and development, manufacturing, marketing and promotions, distribution, and trading of home appliances. It is also involved in the manufacturing and trading of commercial refrigerators, freezers, and air conditioners. D. Relevant Market(s) in which the Parties to the Combination operate.
- There are no (a) horizontal overlaps; and/ or (b) vertical/ complementary links between the activities of the Parties and their respective groups/ affiliates, in India. Accordingly, absent any horizontally overlapping and/ or vertical/ complementary business activities of the Parties in India, the relevant market does not need to be defined and may be left open, as the Proposed Transaction will not lead to any adverse effect on competition in India.
- Accordingly, the Proposed Transaction is notified under Section 6(4) of the Competition Act, 2002 (as amended), read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024.
Source details
- Source
- Competition Commission of India
- Type
- competition order
- Published by source
- 28 Jan 2026
- Issuing division
- Competition Commission of India
- Coverage area
- competition-law