CCI nod for Shell’s acquisition of Solenergi Power

New Delhi, July 12 (Agency) The Competition Commission of India (CCI) has approved the acquisition of Solenergi Power by Shell Overseas Investments BV, an official statement said Tuesday. Shell Overseas Investments B V is a subsidiary of Shell Plc. The proposed combination pertains to acquisition of 100 per cent shareholding and sole control of the Solenergi by Shell Overseas.

The CCI has also approved the acquisition by Shrem InvIT of equity in 10 road infrastructure projects from Dilip Buildcon Limited (DBL) and its associates.The Proposed Combination involves an acquisition of 100 per cent of the equity in the projects by ShremInvIT from Dilip Buildcon Ltd. It also entails the issue of certain units of Shrem InvIT to DBL and its associates as consideration for the acquisition. Shrem InvIT has been set-up for the purpose of carrying on the activity of an infrastructure investment trust while DBL is engaged in the business of construction, operation and maintenance of roads and highways. DBL as an EPC contractor obtains road projects through a government’s competitive bidding process.