CCI approves 100% shareholding of Lanco Amarkantak Power Limited by PFC Projects Limited, REC Limited, SJVN Limited and Damodar Valley Corporation

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CI approves 100% shareholding of Lanco Amarkantak Power Limited by PFC Projects Limited, REC Limited, SJVN Limited and Damodar Valley Corporation <br>News and Press Release<br>Dated:- 4-10-2023<br><BR>The Competition Commission of India (CCI) has approved the proposed acquisition of 100% shareholding of Lanco Amarkantak Power Limited by PFC Projects Limited, REC Limited, SJVN Limited and Damodar V....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....alley Corporation. The proposed combination relates to acquisition of 100% shareholding of Lanco Amarkantak Power Limited (LAPL) by PFC Projects Limited (PPL), REC Limited (REC), SJVN Limited (SJVN) and Damodar Valley Corporation (DVC). Acquirers PPL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a Government of India undertaking. PPL has been set up to, inter alia, c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arry out the business of power generation and distribution. REC is a subsidiary of PFC. It is presently a non-banking financial company categorized as an infrastructure finance company by the Reserve Bank of India. SJVN is a listed company held by the Government of Himachal Pradesh and public shareholders. At present, SJVN is implementing and operating projects in, inter alia, the States of Hima....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....chal Pradesh, Uttarakhand, Bihar, Maharashtra, and Uttar Pradesh in India DVC is a statutory corporation set up under the Damodar Valley Corporation Act, 1948. It is engaged in the businesses of, inter alia, power generation, transmission, and water management in India. Target LAPL is an unlisted public limited company engaged in power generation in India. Detailed order of the CCI will follow....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....<BR> News - Press release - PIB....