The Competition Commission of India (CCI) on Tuesday said it has cleared four deals, including Adani Power’s proposed acquisition of GVK Energy and the purchase of a stake in Ctrl S Datacenters by an arm of Canada Pension Plan Investment Board.
Adani Power is acquiring a 100% stake in stressed GVK Energy following a corporate insolvency resolution process.
Adani Power operates thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
GVK Energy, through its subsidiary AHPL, is engaged in power generation from a 330 MW hydroelectric project in Uttarakhand.
Separately, the antitrust regulator said it has approved the purchase of a 7.14% stake in Llyods Engineering Works by Thriveni Earthmovers and the merger of three entities into Lloyds.
It said Lloyds Infrastructure & Construction, Metalfab Hightech and Techno Industries will be merged into Llyods Engineering Works, which is the surviving entity pursuant to the merger.
Source: Economic Times