CCI Approves BlackRock-Backed GIP EM Star’s Investment in Aditya Birla Renewables

The Competition Commission of India (CCI) has approved the subscription of certain equity share capital of Aditya Birla Renewables Limited (ABReN) by GIP EM Star Pte. Ltd., a Singapore-based entity.

The acquirer is owned by funds managed by GIM EM Manager LLC, which is wholly owned by Global Infrastructure Management, LLC (GIM). GIM is an indirectly majority-owned subsidiary of BlackRock, Inc., the U.S.-based publicly traded investment management and advisory firm serving institutional and retail clients globally.

Headquartered in Mumbai, ABReN, along with its subsidiaries, operates in power generation through renewable energy resources, including solar and wind projects.

A detailed order from the CCI regarding the transaction is expected to follow.