CCI approves Reliance arm’s acquisition of stake in Sterling and Wilson Renewable Energy

According to a combination notice filed with the regulator, Reliance New Energy is seeking to acquire 40 per cent of the total voting equity share capital.

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 per cent of the total voting equity share capital.

However, acquisition can go up to 51.07 per cent of 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.

In India, Sterling and Wilson Renewable Energy is engaged in solar engineering, procurement and construction solutions, and operation and maintenance services.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.