CCI approves acquisition of Teesta Urja Limited by Greenko Mauritius

Speed Post News Network

New Delhi : The Competition Commision of India (CCI) has approved the acquisition by Greenko Mauritius (Acquirer /Greenko) in Teesta Urja Limited (Target/TUL) under Section 31(1) of the Competition Act, 2002.

The proposed combination relates to the acquisition by Greenko of approximately 35% equity stake in the paid-up equity share capital of TUL (Proposed Combination).

Acquirer is a wholly-owned subsidiary of Greenko Energy Holdings incorporated in Mauritius. It is an investment holding company having its investments in a portfolio of companies engaged in the power generation sector in India.

Target is a special purpose vehicle incorporated for the purpose of implementation of 1,200 MW (6 units of 200 MW each) hydro power project in North Sikkim, Sikkim. Detailed order of the CCI will follow, according to a PIB release.