Competition Commission approves Tata Power-NESCO deal
Competition Commission of India (CCI) on Friday said it has cleared Tata Power NSE 3.58 %’s proposed acquisition of 51 per cent stake in North Eastern Electricity Supply Company of Odisha Ltd.
The proposed transaction relates to purchase of 51 per cent in NESCO NSE 2.09 % from GRIDCO. This is pursuant to the competitive bidding process initiated by the Odisha Electricity Regulatory Commission, as per a combination notice filed with the regulator.
“Commission approves acquisition of 51% of equity share capital of North Eastern Electricity Supply Company of Odisha Limited by The Tata Power Company Limited,” CCI said in a tweet.
