Greenko Mauritius's acquisition in Teesta Urja approved by CCI

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).

The Competition Commission of India (CCI) approves 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).

The 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) hydropower project in North Sikkim, Sikkim.

(With Inputs from PIB)