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CCI Approves PRHCL's USD 1.6 Billion Acquisition of Fujitsu General.

Banking & Finance | Dated: 28 Feb 2025

In February 2025, the Competition Commission of India (CCI) approved the proposal of Nagoya (Japan)-based Paloma Rheem Holdings Company Limited (PRHCL) to acquire Japanese air-conditioner maker Fujitsu General for USD 1.6 billion.

🎯 Key Highlights:

  • - Following the approval, Fujitsu General will become a wholly-owned subsidiary of Paloma Rheem Holdings.
  • - Fujitsu General specializes in air conditioning (A/C) solutions for the home, commercial, and industrial markets, along with related IT systems and devices.

💡 Other Important Facts:

  • (i) The company sells A/Cs under the O General brand and operates in India through its subsidiary Fujitsu General (India).
  • (ii) CCI approved the acquisition under the green channel route, as per Section 6(4) of the Competition Act, 2002, read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024.
  • (iii) The green channel mechanism provides automatic approval for combinations that do not significantly impact competition once the involved parties file a notice for the combination.

📚 Test Your Knowledge:

Recently, CCI approved Paloma Rheem Holdings Company Limited's acquisition of Fujitsu General for how much?

Correct Answer: USD 1.6 billion

🚀 Quick Recap: