financetom
Forex World Market Business Cryptocurrency Commodities MAP
financetom
Economy
financetom
/
Economy
/
Competition Commission clears JSW Neo Energy-Mytrah deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Competition Commission clears JSW Neo Energy-Mytrah deal
Sep 29, 2022 11:42 AM

The Competition Commission of India (CCI) on Thursday approved the acquisition of 18 subsidiaries of Mytrah Energy by JSW Neo Energy Ltd. The proposed combination envisages the acquisition of shareholding of 18 subsidiaries of Mytrah Energy (India) Pvt Ltd (Mytrah) through individual share purchase agreements by JSW Neo Energy Ltd, according to an official release on September 29.

Share Market Live

NSE

The combination presents an opportunity to JSW Neo Energy to acquire an operational renewable portfolio of 1,753 MW. In August, JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, announced that it has agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity comprising 17 SPVs and one ancillary SPV from Mytrah Energy (India) Pvt Ltd for Rs 10,530 crore.

Also read: HC dismisses Facebook India's plea challenging CCI probe into WhatsApp's 2021 privacy policy

JSW Neo Energy is a wholly-owned subsidiary of JSW Energy Limited and is engaged in power generation through renewable sources such as hydro and solar, while the 18 subsidiaries of Mytrah Energy (India) Pvt Ltd are engaged in power generation through wind and solar. Deals beyond certain thresholds require approval from CCI which keeps a tab on anti-competitive practices.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
Mar 22, 2024
WASHINGTON (Reuters) - The Republican-controlled U.S. House of Representatives and Democratic-majority Senate on Friday will scramble to beat a midnight government shutdown deadline by passing a $1.2 trillion bill keeping the government funded through September. If they succeed, it will end a more-than-six-month battle over the scope of Washington's spending for the fiscal year that began Oct. 1. If they...
 U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
Mar 22, 2024
(Reuters) - U.S. companies' purchases of domestic equities through more stock buybacks and corporate acquisitions will hit a six-year high of $625 billion this year, about as much as mutual funds and pension houses will offload, Goldman Sachs said. A surge in share buybacks and continued growth in cash mergers and acquisitions (M&A) will be the primary drivers of corporate...
 Fed Chair Powell says pandemic has had lasting effects on economy
Fed Chair Powell says pandemic has had lasting effects on economy
Mar 22, 2024
(Reuters) - Federal Reserve Chair Jerome Powell on Friday opened a Fed Listens event on how Americans are experiencing the economy, saying the pandemic has had lasting effects and that to make good policy the U.S. central bank cannot rely only on macroeconomic data but needs to hear directly from people and businesses. He did not make any remarks about the...
 US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
Mar 22, 2024
07:38 AM EDT, 03/22/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of a series of appearances by Federal Reserve officials that compensate for a lack of major US data. Fed Chairman Jerome Powell is scheduled to make opening remarks at a Fed Listens conference at...
About
Terms and Conditions Privacy policy Cookie Settings Contact Us
Services
Login register
financetom Market Personal Finance Business Economy Cryptocurrency MAP
Links
zpostcode Recruit weather mreligion Yellowpages sport constellation shopping name game directory literature Word tour furnish Lottery tftnews lyrics News digital car dir Edu Finance
Copyright 2023-2026 - www.financetom.com All Rights Reserved