The Competition Commission of India (CCI) on Thursday approved the proposed acquisition of 49% stake in the Odisha Power Generation Corporation Limited (OPGC) by the Adani Power Limited (APL).
The proposed transaction relates to the acquisition of 49% of the total equity share capital of OPGC by APL (Proposed Combination).
The APL is a public-listed company and its shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India. It is a part of the Adani Group, which is, inter-alia, engaged in the business operations of generation, transmission and distribution of power in the country. It is primarily engaged in the business of power generation.
The OPGC, incorporated in Odisha, is a joint venture between the Government of Odisha, the AES India Private Limited and the AES OPGC Holding and operates as a State Government company.
