CCI approves acquisition of 100% of issued & paid-up share capital of NEEPCO by NTPC

Speed Post News Network

New Delhi : The Competition Commission of India (CCI) has approved the acquisition of 100% of the issued and paid-up share capital of North Eastern Electric Power Corporation (“NEEPCO”/ “Target”) by NTPC Limited (“NTPC”/ “Acquirer”) from Government of India (“GoI”), under Section 31(1) of the Competition Act, 2002. The proposed Combination relates to the acquisition of 100% of the issued and paid-up share capital of the Target by the Acquirer from GoI.

NTPC is a Maharatna Company having presence in the power generation business. The principal business activity of the company is electric power generation through coal based thermal power plants. NTPC is also engaged in the business of generation of electricity from hydro and renewable energy sources. NEEPCO, with its headquarters at Shillong, Meghalaya, is a power utility, primarily operating in the north-eastern region of India. The principal business activity of the Target is generation of power through hydro, thermal, and solar power stations, according to a PIB release.