FCC

Notification Regarding the Intention Of Shell Ventures LLC And Sumitomo Corporation to Acquire Shares In Windgen Power USA Inc

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FAIR COMPETITION COMMISSION

NOTIFICATION REGARDING THE INTENTION OF SHELL VENTURES LLC AND SUMITOMO CORPORATION TO ACQUIRE SHARES IN WINDGEN POWER USA INC

PUBLIC NOTICE

(Made under section 65(2) (g) of the fair competition Act No. 8 of 2003 and Rules 41 (6) and 49 of the competition Rules 2018

The fair competition Commission independent statutory body established under section of the fair competition Act No. 8 of 2003 with the objectives of enchanting of the welfare of the people of Tanzania by promoting and protecting effectiveness competition in markets and preventing unfair and misleading market conduct thought Tanzania Mainland
Under the same Act the FCC has powered to investigate, inter alia, entry into and exist from markets. The FCC has received merge notification to the effect that Shell Ventures LLC and Sumitomo Corporate ( the acquiring firm) intends to acquire 450 shares in Windgen Power USA Inc ( the target firm)

Sumitomo Corporation is a Japanese Public listed integrated trading and investing company. It deals with provision of a comprehensive range of service and products ranges from metal product, transportation, construction system, environment and infrastructure chemical and electronics media mineral resources, energy and life sciences

Target firm is a solar energy company incorporate in USA. It operates in Tanzania by way of supplying solar energy products, providing services and supply of AC electricity to its customers though solar powered system and through solar mini Grids distribution networks and smart metering with consumer financing. It directly distributes lanterns though distribution patters. The target firm is holding company powerGen of renewable Energy Limited Tanzania
Based on the sale agreement signed by megrim parties the acquiring firms have entered into a series B preferred stock purchase agreement pursuant to which shell ventures LLC will acquire 13.6% and sumitomo corporation will aqure4.1% of the issued share capital of target investigating the intend acquaint in line with the provision of the fair competition Act and the competition Rules 2018

FCC is currently investigating the intended acquision in line with the provision of the FCC Act and the competition Rules 2018

Pursuant to rule 49 read together with rule of the competition rule 2018 parties both legal and natural petitioners who themselves as having sufficient interest in this merger is not objected to it will have or is likely to have a material effect on their interest are invited to submit interest objection or information(petition). The petitioners are hereby NOTIFIED to submit their before the commission and their status in the proceedings shall be deemed to be that of an observer today

All such petitioner’s shall NOTIFY the commission by way of written submission to the FCC within 14 days from the first day of publication of this Public Notice. No submission filed after the said deadline shall be accepted submission of the said petition should be accompanied by a dully filled-in-form FCC.10 (Notice of Intention to participate found in the first schedule of the competition rules 2018) failure to fill-in-form FCC .10 will deny such as petitioner the right to make any oral submission before the commission and their status in the proceedings shall be deemed to be that of an observer only

Petitioners should take note that pursuant to rule 10 (5) of the competition Rules 2018 as applied to this public notice the commission shall not entertain a subject of the petition where (a) it does not fall under the FCA (b) it has no material effect on competition and (c) the same whole or in parts is before any court, tribunal arbitration, judiciary or quasi-judiciary body

Submission must be submitted to the FCC at the address below

Director General,
Fair Competition Commission,
GEPF House 2nd Floor Plot No 37 Regent State
Bagamoyo Road
P.O. Box 7883,
Dar es Salaam
Tel +255 22 2926128/29/30/ Fax +255 22 2926126
Source Daily News January 20, 2020

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