CCI approves Adani Power's acquisition of Coastal Energen stake
POWER & RENEWABLE ENERGY

CCI approves Adani Power's acquisition of Coastal Energen stake

The Competition Commission of India (CCI) announced its approval of the acquisition proposal for a 100% stake in Coastal Energen by Adani Power Ltd and Dickey Alternative Investment Trust. Adani Power (APL), a prominent thermal power producer in India and a subsidiary of the diversified Adani Group, spearheads this transaction.

The planned deal encompasses the acquisition of the entire equity share capital of Coastal Energen (CEPL) by the acquirers, namely Dickey Alternative Investment Trust (DAIT) and APL, as outlined in a release by the CCI, the fair trade regulator.

Dickey Alternative Investment Trust (DAIT) is a Sebi-registered Alternative Investment Fund (AIF) and is acting through its investment manager, Dickey Asset Management.

Coastal Energen (CEPL) is actively involved in the generation and sale of power. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) in accordance with the insolvency and bankruptcy code.

Transactions exceeding a specified threshold require approval from the regulator, the CCI, which monitors and regulates against unfair business practices, fostering a climate of fair competition in the marketplace.

The Competition Commission of India (CCI) announced its approval of the acquisition proposal for a 100% stake in Coastal Energen by Adani Power Ltd and Dickey Alternative Investment Trust. Adani Power (APL), a prominent thermal power producer in India and a subsidiary of the diversified Adani Group, spearheads this transaction. The planned deal encompasses the acquisition of the entire equity share capital of Coastal Energen (CEPL) by the acquirers, namely Dickey Alternative Investment Trust (DAIT) and APL, as outlined in a release by the CCI, the fair trade regulator. Dickey Alternative Investment Trust (DAIT) is a Sebi-registered Alternative Investment Fund (AIF) and is acting through its investment manager, Dickey Asset Management. Coastal Energen (CEPL) is actively involved in the generation and sale of power. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) in accordance with the insolvency and bankruptcy code. Transactions exceeding a specified threshold require approval from the regulator, the CCI, which monitors and regulates against unfair business practices, fostering a climate of fair competition in the marketplace.

Next Story
Building Material

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Next Story
Technology

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Next Story
Infrastructure Urban

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?