"CCI Greenlights Adani Power's Takeover of Lanco Amarkantak Power"

The Competition Commission of India (CCI) has given its approval for Adani Power to acquire 100% equity share capital of Lanco Amarkantak Power Ltd. This decision was announced via a CCI post on the social media platform 'X', formerly known as Twitter.

The acquisition, which falls under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code (IBC), marks a significant development in the energy sector. Adani Power's move to take over Lanco Amarkantak Power Ltd is expected to have implications for both companies and the wider industry.

This approval follows a series of similar transactions in the energy sector. Last October, the CCI had also approved the 100% acquisition of Lanco Amarkantak Power by PFC Projects, REC, SJVN, and Damodar Valley Corporation.

Additionally, in another noteworthy transaction, the CCI has granted approval for the subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE. These developments underscore the ongoing dynamism within India's corporate landscape and the regulatory environment governing mergers and acquisitions.

HBL