CCI approves acquisition of equity stake in Teesta Urja by Greenko Mauritius

New Delhi: Fair trade regulator CCI has approved the acquisition of about 35 per cent equity stake in Teesta Urja Ltd by Greenko Mauritius, according to the Ministry of Corporate Affairs. “The proposed combination relates to the acquisition by Greenko of approximately 35 per cent equity stake in the paid-up equity share capital of Teesta Urja Ltd,” it said in a release.

Greenko Mauritius is a wholly-owned subsidiary of Mauritius-based Greenko Energy Holdings.

Teesta Urja is a special purpose vehicle incorporated for implementation of a 1,200 MW hydro power project in North Sikkim, the release said.

In a separate statement, the Competition Commission of India (CCI) on Wednesday said it has approved setting up of Mindspace REIT (real estate investment trust) by K Raheja Corp Group.

The proposed transaction also involves “acquisition of certain equity shareholding held by selling shareholders in the Target Entities by REIT.”

The target entities are K Raheja IT Park (Hyderabad) Ltd, Intime Properties Ltd, Sundew Properties Ltd, Avacado Properties and Trading (India) Pvt Ltd, Gigaplex Estate Pvt Ltd, KRC Infrastructure and Projects Pvt Ltd, Horizonview Properties Pvt Ltd and Mindspace Business Parks Pvt Ltd.

The target entities are special purpose vehicles and are active in the commercial real estate industry, it added.


READ  A peek into the Indian Railways' blueprint to roll out private trains

Leave a Reply