CCI approves Greenko Mauritius' acquisition of 35% stake in Teesta Urja Ltd
12 March 2020
The Competition Commission of India (CCI) has approved the acquisition of 35 per cent of the paid-up equity share capital of Teesta Urja Limited by Greenko Mauritius.
Greenko Mauritius is a wholly-owned subsidiary of Greenko Energy Holdings, incorporated in Mauritius. It is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.
The target company is a special purpose vehicle incorporated for the purpose of implementation of 1200 MW (6 units of 200 MW each) hydro power project in North Sikkim.
CCI also approved the acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust.
The proposed combination envisages subscription to additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust.
Otter is an investment company registered in Mauritius. Link is a private trust registered in India and is engaged in making investments.
Hero FinCorp is a public limited company registered as a systemically important non-deposit taking non-banking financial company (NBFC) with the Reserve Bank of India. It is primarily engaged in the business of consumer finance and commercial lending.