NTPC gets CCI approval to acquire 74.50% of issued and paid-up share capital of THDC India Ltd.
New Delhi: The Competition Commission of India (CCI) approved the acquisition of 74.50% of the issued and paid-up share capital of THDC India Limited (“THDC”/ “Target”) by NTPC Limited (“NTPC”/ “Acquirer”) from Government of India (“GoI”), under Section 31(1) of the Competition Act, 2002.
The Proposed Combination relates to the acquisition of 74.50% of the issued and paid-up share capital of the Target by the Acquirer from GoI.
NTPC is a Maharatna Company having presence in the power generation business. The principal business activity of the company is electric power generation through coal-based thermal power plants. NTPC is also engaged in the business of generation of electricity from hydro and renewable energy sources.
THDC is a government company with 74.50% of its total shares held by the Government of India and 25.50% of its shares held by the Government of Uttar Pradesh as on 31 March 2019. The Target is a Central Public Sector Unit and under the administrative control of the Ministry of Power, GoI.
The CCI approved the Proposed Combination under Section 31(1) of the Act.