CCI by its order dated July 10, 2015 approved the proposed combination for creation of a JV between Google and Johnson and Johnson (J&J). Google would hold 70.1% equity shareholding in the JV; while J&J through its subsidiaries JJDC (23.1%) and Ethicon(6.8%) would control the remaining shareholding in the JV.
J&J is a multinational company, active inter-alia in the businesses of consumer healthcare, medical devices and pharmaceuticals. JJDC, a venture capital company specialising inter-alia in the area of health care and technology is stated to be engaged in identifying early market signals/indicators and strategic investment opportunities in its areas of specialties. Ethicon is stated to be active in manufacture and marketing of surgical technologies and solutions. Google's activities are primarily focused around areas such as, search, advertising, operating systems and platforms and enterprise including Gmail, Google Docs.
The CCI noted that the assets being contributed to the JV are located entirely outside India. Further, there is no horizontal or vertical relationship between the parties. CCI opined that the proposed combination is not likely to have any appreciable adverse effect on competition in India and therefore, approved the proposed combination under sub-section (1) of Section 31 of the Act.