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CCI clears Adani Power's 49% stake buy in Odisha Power Generation Corporation

The proposed transaction relates to the acquisition of 49% of the total equity share capital of OPGC by APL (Proposed Combination).

Posted : 30 July, 2020
Author : Admin
CCI clears Adani Power's 49% stake buy in Odisha Power Generation Corporation

The Competition Commission of India (CCI) approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC) by Adani Power Limited (APL).

The proposed transaction relates to the acquisition of 49% of the total equity share capital of OPGC by APL (Proposed Combination).

APL, is a public listed company and its shares are listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. It is a part of the Adani Group, which is inter-alia engaged in the business operations of generation, transmission and distribution of power in India. APL is primarily engaged in the business of power generation.

OPGC, incorporated in Odisha, is a joint venture between Government of Odisha, AES India Private Limited and AES OPGC Holding and operates as a state government company. OPGC is engaged in the business of power generation.

Detailed order of the CCI will follow.

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