The Competition Commission of India (CCI) approves formation of Joint Venture between Adani Green Energy Limited and Total S.A. in the business of power generation through solar energy in India.
The proposed combination envisages Adani Green Energy Limited transferring certain of its subsidiaries to a newly incorporated company (JV). Subsequently, Total S.A. would directly or indirectly acquire 50% of the equity share capital of the JV.
Total S.A. is the ultimate parent entity of the Total Group. Total Group is an international integrated energy producer with operations in every sector of the oil and gas industry. Total Group is also involved in renewable energy and power generation sectors in India.
The Target Companies are active in the business of power generation through solar energy in India.
The entire contents of this article are solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation by the Author. Compliance Calendar LLP and the Author of this Article do not constitute any sort of professional advice or a formal recommendation. The author has undertaken utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify and confirm the updates from the genuine sources before acting on any of the information’s provided hereinabove. Compliance Calendar LLP shall not be responsible for any loss or damage in any circumstances whatsoever.