+
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

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code