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CCI approves acquisition of 49% of Odisha Power Generation Corporation by Adani Power
New Delhi, July 31, 2020
The Competition Commission of India (CCI) has approved the 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), an official press release said.
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.