New Delhi:
The Competition Commission of India (CCI) on Wednesday approved the acquisition of its stake in Sterling and Wilson Renewable Energy Limited by Reliance New Energy Solar Limited.
According to a combination notification filed with the regulator, Reliance New Energy is targeting 40 percent of its total voting share capital.
However, the acquisition could amount to 51.07 percent of Sterling and Wilson Renewable Energy’s share capital in the event of full acceptance of the open offer.
“The Commission clears Reliance New Energy Solar Limited’s acquisition of its stake in Sterling and Wilson Renewable Energy Limited,” the regulator’s tweet said.
In India, Sterling and Wilson Renewable Energy are engaged in solar engineering, procurement and construction solutions, and operation and maintenance services.