Competition Commission of India has approved the purchase of Reliance New Energy’s stake in Wilson Renewables
New Delhi:
The Competition Commission of India (CCI) on Wednesday approved the acquisition of shareholding in Sterling & Wilson Renewable Energy Ltd by Reliance New Energy Solar Ltd.
According to a joint notice filed with the regulator, Reliance New Energy is seeking to acquire 40 per cent of the total voting equity share capital.
However, in the event of full acceptance of the open offer, the acquisition could go up to 51.07 percent of the equity share capital of Sterling & Wilson Renewable Energy.
According to the tweet of the regulator, “The Commission has approved the acquisition of shareholding in Sterling & Wilson Renewable Energy Limited by Reliance New Energy Solar Limited.”
In India, Sterling & Wilson Renewable Energy is engaged in solar engineering, procurement and construction solutions, and operation and maintenance services.
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