The Competition Commission of India (CCI) has given its nod for acquisition of 26 percent equity stake in ONGC Tripura Power Company by GAIL (India). The stake is being acquired from IL&FS group companies IL&FS Energy Development Company and IL&FS Financial Services.
GAIL had participated in an open bidding process and had emerged as the highest bidder pursuant to the expression of interest issued for acquiring 26 percent stake held by the IL&FS Group in ONGC Tripura Power Corporation. The combined value of assets and turnover of GAIL India and ONGC Tripura for the financial year ending March 2020 are Rs 71,959.84 crore and Rs 73,408.82 crore.
GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc.
