CCI Clears Gentari Renewables' Acquisition of 21 Special Purpose Vehicles
POWER & RENEWABLE ENERGY

CCI Clears Gentari Renewables' Acquisition of 21 Special Purpose Vehicles

The Competition Commission of India (CCI) approved the proposal by US-based global investment firm Carlyle to acquire a 68.9 per cent stake in Roop Automotives (RAL). The regulator explained that the proposed transaction includes several interconnected steps, including a securities swap between Highway Industries (HIL) shareholders and RAL, ultimately leading to the acquisition of up to 68.9 per cent of RAL's shareholding by the investor.

CA Carob Investments, the Mauritius-based special-purpose vehicle (SPV), is controlled by affiliates of the Carlyle Group. As of September 30, 2024, Carlyle manages assets worth $447 billion.

Both RAL and HIL are involved in the manufacturing and sale of auto components. The CCI confirmed the approval of the proposed combination, which involves interconnected steps, including the acquisition of a 68.9 per cent stake in RAL by CA Carob Investments.

In a separate release, CCI also cleared Gentari Renewables India 's proposed acquisition of 21 special purpose vehicles (SPVs), which own renewable power generation plants and holding companies of other SPVs. Gentari Renewables India, an indirect subsidiary of Petroliam Nasional Berhad, focuses on providing clean energy solutions, including renewable energy, hydrogen, and green mobility.

The SPVs involved in the deal are engaged in power generation and sales through wind turbines and solar power plants. These transactions, which exceed certain thresholds, require approval from the CCI, which monitors business practices to ensure fair competition in the market.

The Competition Commission of India (CCI) approved the proposal by US-based global investment firm Carlyle to acquire a 68.9 per cent stake in Roop Automotives (RAL). The regulator explained that the proposed transaction includes several interconnected steps, including a securities swap between Highway Industries (HIL) shareholders and RAL, ultimately leading to the acquisition of up to 68.9 per cent of RAL's shareholding by the investor. CA Carob Investments, the Mauritius-based special-purpose vehicle (SPV), is controlled by affiliates of the Carlyle Group. As of September 30, 2024, Carlyle manages assets worth $447 billion. Both RAL and HIL are involved in the manufacturing and sale of auto components. The CCI confirmed the approval of the proposed combination, which involves interconnected steps, including the acquisition of a 68.9 per cent stake in RAL by CA Carob Investments. In a separate release, CCI also cleared Gentari Renewables India 's proposed acquisition of 21 special purpose vehicles (SPVs), which own renewable power generation plants and holding companies of other SPVs. Gentari Renewables India, an indirect subsidiary of Petroliam Nasional Berhad, focuses on providing clean energy solutions, including renewable energy, hydrogen, and green mobility. The SPVs involved in the deal are engaged in power generation and sales through wind turbines and solar power plants. These transactions, which exceed certain thresholds, require approval from the CCI, which monitors business practices to ensure fair competition in the market.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement