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Thursday, May 30, 2024

CCI Greenlights Adani Power’s 100% Acquisition of Lanco Amarkantak Power Limited

The Competition Commission of India (CCI) has approved 100% acquisition of Lanco Amarkantak Power Limited by Adani Power Limited.

The Adani Power Limited (Acquirer), a part of the Adani Group, is a company incorporated under the laws of India. The Acquirer is engaged in the business of thermal power generation in India. The Acquirer operates its thermal power plants across multiple states in India, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Jharkhand and Madhya Pradesh. Adani group is a global integrated infrastructure player with businesses in key industry verticals – resources, logistics and energy.

The Lanco Amarkantak Power Limited (Target), a part of the Lanco Group, is engaged in the business of thermal power generation in India. The Target is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).

The proposed combination relates to the acquisition of 100% equity share capital of the Target by the Acquirer. (Proposed Combination).

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(Source: PIB)

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