The Competition Commission of India (CCI) on Wednesday approved the acquisition of shareholding in Sterling and Wilson Renewable Energy Ltd by Reliance New Energy Solar Ltd. According to a combination notice filed with the regulator, Reliance New Energy is seeking to acquire 40 percent of the total voting equity share capital.
However, acquisition can go up to 51.07 percent of the equity share capital of Sterling and Wilson Renewable Energy in the eventuality of full acceptance of the open offer. "Commission approves acquisition of shareholding in Sterling and Wilson Renewable Energy Limited by Reliance New Energy Solar Limited," according to the regulator's tweet.
Commission approves acquisition of shareholding in Sterling and Wilson Renewable Energy Limited by Reliance New Energy Solar Limited pic.twitter.com/SZ9IqgkE3r
— CCI (@CCI_India) December 15, 2021
In India, Sterling and Wilson Renewable Energy is engaged in solar engineering, procurement and construction solutions, and operation and maintenance services.
First Published: Dec 15, 2021 9:56 PM IST
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