NTPC gets CCI approval to acquire 74.50% of issued & paid-up share capital of THDC

Speed Post News Network

New Delhi : The Competition Commission of India (CCI) has approved the acquisition of 74.50% of the issued and paid-up share capital of Tehri Hydro Development Corporation (THDC) India Limited (“THDC”/ “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 74.50% 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. It is also engaged in the business of generation of electricity from hydro and renewable energy sources, according to a PIB release.

THDC is a government company with 74.50% of its total shares held by the Government of India and 25.50% of its shares held by the Government of Uttar Pradesh as on March 31, 2019. The Target is a Central Public Sector Unit and under the administrative control of the Ministry of Power, GoI.