New Delhi: Competition Commission of India (CCI) approved the CCI approves acquisition proposal involving GVK Energy Limited. It cleared the acquisition of 100% share capital and control of the company by Adani Power Limited. The decision followed a review under competition law provisions.
The transaction forms part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Moreover, the approval allows Adani Power to acquire full ownership of the target company. The detailed order will follow from the Commission.
Adani Power Limited is a listed public company in India. It operates thermal power plants across several states, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh,…