India’s Competition Commission gives nod to acquisition of Mauritius firm

The Competition Commission of India (CCI) has approved British oil and gas major Shell’s proposed acquisition of Mauritian renewable energy firm Solenergi Power. The deal was announced in April this year.

In a tweet on July 11, CCI said it has cleared the “acquisition of 100% shareholding and sole control of Solenergi Power Pvt Ltd by Shell Overseas Investments BV.”

Shell Overseas Investments BV is a subsidiary of Shell Plc.

Incorporated in Mauritius, Solenergi Power Pvt Ltd supplies solar and wind power to electricity distribution companies in India. It is the direct shareholder of the Sprng Energy group of companies in India.

Original article at Economics Times, India