CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
The Competition Commission has approved the purchase of stake in Tata Power Renewable Energy Ltd (TPREL) by Greenforest New Energies Bidco.
The proposed combination relates to the acquisition of up to 11.43 per cent stake in TPREL by Greenforest New Energies Bidco, an investment vehicle jointly run by BlackRock and Mubadala Investment Company.
In a tweet on Tuesday, the Competition Commission of India (CCI) said it has approved the “acquisition of stake in Tata Power Renewable Energy Ltd indirectly by BlackRock and Mubadala”.
Greenforest is an investment vehicle jointly and indirectly incorporated by BlackRock Alternatives Management, LLC and Mubadala Investment Company PJSC for undertaking the proposed transaction.
