Abu Dhabi Future Energy Gets CCI Nod For Buying Hero Future Energies

In Clean News, News, Renewable Energy

The Competition Commission of India (CCI) has given nod under the green channel route to Abu Dhabi Future Energy Company for acquiring equity stake in Hero Future Energies Global Ltd.

Besides, the transaction involves acquisition of non-voting compulsorily convertible preference shares in Hero Future Energies Private Ltd.

The transaction represents an attractive investment opportunity for the acquirer in the renewable energy sector in India.

The Abu Dhabi Future Energy Company PJSC (Masdar) is an international renewable energy and sustainability company that provides solutions in energy, water, urban development and clean technologies

This is second clearance given under the ‘green channel’ route by the fair trade regulator.

Before this, the regulator had approved acquisition of Essel Mutual Fund by a Sachin Bansal-owned entity in October.

The green channel concept — recommended by the high-level panel that reviewed competition law in August — allows for an automatic system for speedy approval of certain categories of merger and acquisitions.

Reference- Economic Times

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