Fair trade regulator CCI on Tuesday said it has approved acquisition of GMR Kamalanga Energy Ltd by JSW Energy.
Competition Commission of India (CCI), in a press release said that the proposed combination which envisages the acquisition of the entire shareholding in of GMR Kamalanga Energy by JSW Energy, was given a nod in its meeting held through video conferencing.
The acquirer is engaged in power generation, transmission, trading, coal mining and power equipment manufacturing and has a total energy generation capacity of 4,541 MW, CCI noted.
GMR Kamalanga is engaged in generation of power through its coal based thermal power plant at Kamalanga village, Dhenkanal district in Odisha, it added.
In February, JSW Energy in a regulatory filing had said it will buy GMR Energy Ltd's 1,050 MW thermal power plant in Odisha for Rs 5,321 crore.
JSW Energy had signed share purchase agreement with GMR Energy Ltd for acquiring its subsidiary GMR Kamalanga Energy Ltd.
Disclaimer: No Business Standard Journalist was involved in creation of this content
