Abu Dhabi’s Masdar to buy minority stake in Hero Future Energies
MUMBAI : Abu Dhabi Future Energy Co. PJSC, also known as Masdar, one of the largest developers of renewable energy in West Asia, is picking up a minority stake in Hero Future Energies Pvt. Ltd, a renewable energy company owned by Rahul Munjal of Hero Group.
According to a filing made to the Competition Commission of India (CCI), the offer was approved under the green channel for mergers and acquisitions.
The green channel is a speedier approval route for mergers and acquisitions. Under this process, the combination is deemed to have been approved upon filing the notice in the prescribed format.
