Competition Commission of India (CCI) has approved British oil and gas major Shell’s proposed acquisition of renewable energy firm Solenergi Power. The deal was announced in April this year.
In a tweet on Monday, CCI said it has cleared the “acquisition of 100% shareholding and sole control of Solenergi Power Pvt Ltd by Shell Overseas Investments BV.”
Shell Overseas Investments BV is a subsidiary of Shell Plc.
Incorporated in Mauritius, Solenergi Power Pvt Ltd supplies solar and wind power to electricity distribution companies in India. It is the direct shareholder of the Sprng Energy group of companies in India.
In another tweet, the regulator said it has approved the deal involving Dilip Buildcon Ltd (DBL) and Shrem InvIT.
CCI has given its nod for the “acquisition of 100% of the equity in ten road infrastructure projects by ShremInvIT from Dilip Buildcon Ltd (DBL) and acquisition of certain units of Shrem InvIT by DBL”.
Bhopal-based Dilip Buildcon Ltd is into construction and infrastructure development, while Shrem InvIT (Investment Infrastructure Trust) is engaged in the infrastructure projects space.
Deals beyond a certain threshold have to be approved by CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
