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CCI approves acquisition of stake in Tata Power’s arm by Greenforest

27 Jul 2022 Evaluate

The Competition Commission of India (CCI) has approved acquisition of stake in Tata Power Renewable Energy (TPREL), a wholly owned subsidiary of Tata Power Company, by Greenforest New Energies Bidco. The proposed combination relates to internal reorganization of TPREL and acquisition of up to 11.43% of the equity share capital of TPREL by Greenforest.

Greenforest New Energies Bidco (Greenforest) is an investment vehicle indirectly incorporated by BlackRock Alternatives Management, LLC. (BAM) and Mubadala Investment Company PJSC (MIC) for undertaking the Proposed Combination.

Tata Power Company is India’s largest integrated power company.

Peers
Company Name CMP
NTPC 313.00
Tata Power 338.45
Adani Power 189.85
Power Grid Corpn. 247.40
Adani Energy Solut. 1277.05
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