The Competition Commission of India (CCI) approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC) by 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).

APL, is a public listed company and its shares are listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. 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 India. APL is primarily engaged in the business of power generation.

OPGC, incorporated in Odisha, is a joint venture between Government of Odisha, AES India Private Limited and AES OPGC Holding and operates as a state government company. OPGC is engaged in the business of power generation.

Detailed order of the CCI will follow.

Merger control: regulator clears acquisition of a minority stake in a state power generator, enabling private participation. The Competition Commission of India approved a proposed combination under merger control in which Adani Power Limited, a publicly listed power generation company, will acquire 49% of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC). OPGC is a state-incorporated joint venture formed by the Government of Odisha and AES entities and operates as a state government company in the business of power generation. A detailed order from the regulator will follow.