CCI Approves Adani Power’s 49% Stake Acquisition in OPGC
New Delhi: The Competition Commission of India (CCI) has given its approval to the Adani Power’s proposed acquisition of 49 per cent stake in Odisha Power Generation Corporation Ltd (OPGC). In June, Adani Power had announced that it will acquire the US-based AES Corporation’s 49 per cent equity stake in OPGC for $135 million (about [...]
New Delhi: The Competition Commission of India (CCI) has given its approval to the Adani Power’s proposed acquisition of 49 per cent stake in Odisha Power Generation Corporation Ltd (OPGC).
In June, Adani Power had announced that it will acquire the US-based AES Corporation’s 49 per cent equity stake in OPGC for $135 million (about Rs 1,019 crore).
OPGC, a joint venture between the Odisha Government, AES India and AES OPGC Holding, operates 1,740 MW thermal power plant in Jharsuguda district.
The State Government holds the remaining 51 per cent stake in OPGC, which has recorded a turnover of Rs 887.71 crore in 2018-19.
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