CCI approves NTPC's stake-buy in NEEPCO, THDC India
Feb 24, 2020, 19:09 IST
New Delhi, Feb 24 () Fair trade regulator CCI on Monday said it has given nod to acquisition of government's entire stake in THDC India and North Eastern Electric Power Corporation Ltd (NEEPCO) by state-owned NTPC Ltd.
As part of transactions, NTPC will acquire 100 per cent of the issued and paid-up share capital of the NEEPCO and 74.5 per cent stake in THDC India, the Competition Commission of India (CCI) noted in separate releases.
Advertisement
Apart from the government's 74.5 per cent stake in THDC India, the rest 25.5 per cent stake is held by the Uttar Pradesh government, it added.
NTPC is a maharatna company having presence in the power generation business. Among other activities, it is engaged in the business of electric power generation through coal based thermal power plants, CCI said.
In November 2019, Finance Minister Nirmala Sitharaman had said the government will sell its stake in THDC India and NEEPCO to NTPC Ltd. SRS SHWSHW(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)