CCI Okays 96.42% Stake Buy In Jindal Power By Worldone

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CCI Okays 96.42% Equity Buy In Jindal Power By Worldone

Competition Commission has cleared acquisition of 96.42 per cent stake in Jindal Power by Worldone

New Delhi:

The Competition Commission of India (CCI) said on Thursday that it has approved the acquisition of 96.42 per cent equity shareholding in Jindal Power Limited by Worldone Private Limited.

Worldone Private Limited (Worldone) is an investment holding company which has investments in various listed and unlisted companies. Jindal Power Limited (JPL) is primarily engaged in the business of generating thermal power by using coal as a fuel source.

The proposed combination relates to the acquisition of 96.42 per cent equity shareholding in JPL by Worldone. The relevant markets associated with the transaction are – market for coal-based thermal power generation in India and market for power transmission in India – the CCI said in a statement.

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