Adani Electricity Mumbai’s 25% stake sale to QIA subsidiary gets CCI nod
The Competition Commission of India on Friday said it has given approval under the green channel route to acquisition of over 25 per cent stake in Adani Electricity Mumbai Ltd and Adani Electricity Mumbai Services Ltd by Qatar Holding LLC.
The Qatar Investment Authority (QIA) earlier in December agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd — the firm that distributes power to three million consumers in Mumbai — for Rs 3,200 crore.
“Adani Transmission Limited (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
