Team News Riveting
New Delhi, July 12
The Competition Commission of India (CCI) has approved acquisition of Solenergi Power Private Limited by Shell Overseas Investments B.V.’s from Actis Solenergi Limited under Section 31(1) of the Competition Act, 2002, yesterday.
The proposed combination pertains to acquisition of 100 per cent shareholding and sole control of the Target by the Acquirer.
Acquirer is a company incorporated in the Netherlands and is a part of the Shell group. It is a holding company. Shell Plc is the ultimate holding company and directly and indirectly owns investments in various companies (Shell Group). Shell Plc’s shares are listed on the London Stock Exchange, Euronext Amsterdam and the New York Stock Exchange. The Shell Group is a global group of energy and petrochemical companies with 83,000 employees in more than 70 countries.
Target is an investment company incorporated in Mauritius, belonging to the Actis group. It currently has investments in the renewable energy sector in India.
Detailed order of the CCI will follow.
