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Fair trade regulator Competition Commission of India (CCI) on Thursday approved the acquisition of 100 per cent equity of Diliigent Power and DB Power by Adani Power Ltd.
The proposed combination relates to the acquisition of the 100 per cent of the share capital and economic rights of Diliigent Power and DB Power by Adani Power Ltd, according to an official release.
In August, Adani Power said it will acquire DB Power Ltd, which owns and operates a 2×600 MW thermal power plant at Janjgir-Champa district in Chhattisgarh, at an enterprise value of Rs 7,017 crore for cash consideration.
Diliigent Power is primarily engaged in the activities of a holding company.
DB Power operates a coal-based thermal power plant with an installed capacity of 1,200 MW per hour in Chhattisgarh.
Adani Power is a publicly listed company with eight operational power plants in India.
Deals beyond certain thresholds require approval from CCI which keeps a tab on anti-competitive practices.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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