)
Fair trade watchdog Competition Commission of India (CCI) has cleared billionaire Dilip Shanghvi's proposed Rs 1,800-crore stake buy in wind turbine maker Suzlon Energy.
The deal, announced in February, would see Shanghvi acquiring at least 23 per cent stake in Suzlon, which has been grappling with tough business conditions.
Suzlon has entered into agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore in the company. After allotment, DSA wold have 23 per cent stake in the wind turbine maker while the Tanti family would have 24 per cent shareholding.
When the deal was announced in February, Suzlon Group chairman Tulsi Tanti had said that support from Shanghvi and family would help in creating long-term sustainable value for stakeholders.
