CCI vide its order dated July 1, 2016 has approved JV
entered between Nestlé and PAI (through Riviera Topco) which
would be jointly controlled by Nestlé and PAI (through
Riviera Topco) and would be principally active in the production,
distribution and sale of ice cream products in certain geographical
areas and to a limited extent in the production and sale of some
other frozen food products in certain European Economic Area
("EEA") countries, as well as chilled dairy products in
the Philippines, pursuant to execution of an Implementation
Agreement entered into among, inter alia , Nestle and Riviera
Topco.
The following businesses would be transferred to the JV by
Nestlé and PAI respectively: i. Nestlé Contributed
Business: This comprises of (i) Nestlé's ice cream
business located in Europe, Middle East and North Africa (excluding
Israel) and certain other geographical areas, including Argentina,
Brazil, and the Philippines; (ii) some of Nestlé's
frozen food
