NEW DELHI : The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of 100 per cent share capital of Diliigent Power Private Limited and DB Power Limited by Adani Power Limited.
“The Competition Commission of India (CCI) approves acquisition by Adani Power Limited (Acquirer) of share capital of Diliigent Power Private Limited (Diliigent Power) and DB Power Limited (DB Power) [Diliigent Power and DB Power are collectively referred to as Targets],”an official statement said.
The Proposed Combination involves the acquisition of the 100% of the share capital and economic rights of the Targets by the Acquirer.
The Acquirer (Adani Power Limited) is a public listed company incorporated in India with its shares listed on BSE Limited as well as the National Stock Exchange of India Limited, the Competition Commission of India said in a statement.
The Acquirer is a power company with eight operational power plants in India. It has power generation capacity of 13,650 MW comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a 40 MW solar power project in Gujarat, it said.
Diligent Power is primarily engaged in the activities of a holding company. It also provides project management and consultancy services, limited to DB Power.
DB Power operates a coal-based thermal power plant with an installed capacity of 1200 MW per hour in Chhattisgarh.
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