CCI vide its order dated May 7, 2015 approved the combination between Johnson Control Inc. (JCI), Hitachi Ltd. (Hitachi), and Hitachi Appliances, Inc. (HA). The proposed combination entails the acquisition of worldwide building heating, ventilation and air conditioning (HVAC) business (excluding certain operations and assets) of HA, a wholly owned subsidiary of Hitachi, by JCI, through Johnson Controls Air Conditioning Holding (UK) Ltd. (JCAC), a newly incorporated company created for the purpose of the proposed combination. JCAC would become a global 60:40 joint venture company between JCI and HA pursuant to the proposed combination. They were required to remove defects and provide information under Regulation 14 of the CCI (Procedure in regard to transaction of business relating to combinations) Regulations, 2011. CCI observed that the market is characterized by various domestic and international players. Further, companies have insignificant market share. Considering the factors and assessment, CCI approved the acquisition under Section 30(1).