New Delhi, May 12 (PTI) Fair trade regulator CCI on Tuesday approved billionaire Gautam Adani-led Adani Power Ltd’s proposal to acquire GVK Energy.
GVK Energy Ltd, through its subsidiary AHPL, is engaged in the generation of power from a 330 MW hydroelectric power project in Srinagar, Uttarakhand.
“The proposed combination involves the acquisition of 100 per cent share capital and control of the target (GVK Energy Ltd) by the acquirer (Adani Power Ltd) pursuant to the corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016, in respect of the target,” the regulator said in a release.
Adani Power is a private thermal power producer and operates plants spread across Gujarat, Maharashtra, Karnataka,…