Adani Power shares would be in focus on Wednesday morning after the Adani group company received nod from competition regulator Competition Commission of India (CCI) for acquiring Lanco Amarkantak Power Limited. The target company, a part of the Lanco Group, is engaged in the business of thermal power generation in India. Lanco Amarkantak Power is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). Adani Power Ltd will be acquiring 100 per cent equity share capital in Lanco Amarkantak Power.
As per CCI, the proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India. Earlier, Adani Power received the…
Read the full article at: https://www.businesstoday.in/markets/company-stock/story/adani-power-shares-in-focus-as-cci-approves-lanco-amarkantak-acquisition-422989-2024-03-27