The Competition Commission of India (CCI) on Thursday said it has approved the acquisition of 96.42 per cent equity stake in Jindal Power Ltd by Worldone Private Limited.
Worldone Private Limited (Worldone) is an investment holding company with investments in various listed and unlisted companies. Jindal Power Limited (JPL) is primarily engaged in the business of generating thermal power by using coal as a fuel source.
The proposed combination pertains to acquisition of 96.42 per cent equity shareholding in JPL by Worldone. The relevant markets associated with the transaction are – the market for coal-based thermal power generation in India and the market for power transmission in India – the CCI said in a statement.