CCI approves minority stake-buy in Azure Power by OMERS Infrastructure
The Competition Commission of India (CCI) on Friday approved acquisition of certain shareholding in Azure Power Global Ltd from its existing shareholders by OMERS Infrastructure Asia Holdings Pte Ltd, under the green channel route.
Green channel is an automatic approval system, whereby a combination is deemed to have been approved by the CCI upon receiving the filing of the notice for the combination by the parties concerned.
“The proposed transaction relates to the acquisition of a minority shareholding of approximately 19.36 per cent in Azure Power Global Limited (Target) by OMERS Infrastructure Asia Holdings Pte. Ltd. (Acquirer), from its existing shareholders,” according to a statement.
