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The proposed acquisition of Solenergi Power, a renewable energy company, by British oil and gas giant Shell has been approved by the Competition Commission of India (CCI).
The deal was announced in April of this year.
CCI tweeted Monday that it had approved the acquisition of Solenergi Power Pvt Ltd and sole control by Shell Overseas Investments BV. Shell Overseas Investments BV, a subsidiary of Shell Plc, is a company that Shell Plc owns.
Solenergi Power Pvt Ltd was established in Mauritius and supplies solar and wind power for electricity distribution companies in India. It is India’s direct shareholder in the Sprng Energy company group.
Another tweet stated that the regulator had approved the deal between Dilip Buildcon Ltd. (DBL), and Shrem INvIT.
CCI approved the “acquisition 100 percent of equity in ten road infrastructure project by ShremInvIT (DBL), and acquisition of certain units by Shrem InvIT (DBL).
Bhopal’s Dilip Buildcon Ltd specializes in construction and infrastructure development, while Shrem InvIT is involved in the space of infrastructure projects.
CCI must approve any deal that exceeds a certain threshold. This agency keeps an eye on unfair business practices and promotes fair competition.