Adani Power gets CCI’s approval to acquire Lanco Amarkantak Power

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Adani Power’s proposed acquisition of Lanco Amarkantak Power.

Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a release.

Insolvent Lanco Amarkantak Power is engaged in the business of thermal power generation.

On March 5, Adani Power announced it received the creditors’ approval for the resolution plan to acquire insolvent Lanco Amarkantak Power.