CCI clears JSW Energy purchase of JSPL’s plant

NEW DELHI: JSW Energy has got fair trade regulator Competition Commission of India’s approval to acquire 1,000-MW power plant in Chhattisgarh from Jindal Steel and

NEW DELHI: JSW Energy has got fair trade regulator Competition Commission of India’s approval to acquire 1,000-MW power plant in Chhattisgarh from Jindal Steel and Power Ltd. Under the deal announced in May, the Sajjan Jindal-led firm was to purchase the power plant in Raigarh for ₹6,500 crore with certain conditions. The CCI, which keeps a tab on unfair business practices, has approved the proposed acquisition, according to its website. The JSPL board had approved divesting the unit of its subsidiary Jindal Power Ltd into a special purpose vehicle for transferring it to JSW Energy.

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