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CCI okays acquisition of Teesta Urja Limited by Greenko Mauritius

Published: Mar 12, 2020

By TIOLCORPLAWS News Service

NEW DELHI, MARCH 12, 2020: THE Competition Commission of India (CCI) 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 1200 MW (6 units of 200 MW each) hydro power project in North Sikkim, Sikkim.

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