By Our Correspondent
NEW DELHI/BHUBANESWAR: The Competition Commission of India (CCI) approves acquisition of 96.42% equity shareholding in Jindal Power Limited by Worldone Private Limited.
Worldone Private Limited (Worldone) is an investment holding company which has investments in various listed and unlisted companies.
Jindal Power Limited (JPL) is primarily engaged in the business of generating thermal power by using coal as a fuel source.
The Proposed Combination relates to acquisition of 96.42% equity shareholding in JPL by Worldone. The relevant markets associated with the transaction are (i) Market for coal-based thermal power generation in India (ii) Market for power transmission in India.Detailed order of the CCI will follow.
Jindal Power Limited (JPL), a subsidiary of Jindal Steel & Power Limited, is a leading power company in India across the energy spectrum: thermal, hydro and renewable. JPL has been contributing significantly to the growing needs of power in the country and its installed capacity is 3400 MW.
