Competition Commission of India (CCI) has approved the acquisition of Orix Wind SPVs by Greenko Energy Holdings (GEH) from ORIX Corp. and equity stake in GEH by Orix under Section 31(1) of the Competition Act, 2002, on Thursday.
GEH is the holding company of the Greenko Group of Companies. The principal business activity of Indian subsidiaries of GEH is the ownership, development, construction and maintenance of power generation projects.
Orix is the holding company of the Orix Group of Companies that offers a wide variety of services, including corporate financial services (financing, leasing and solutions for small and medium-sized enterprises), maintenance leasing (automobile leasing, rental and car-sharing and IT-related equipment rentals and leasing), real estate, private equity investments, life insurance, banking and credit, asset management, environment and energy services including power generation.
Orix Wind SPVs are the subsidiaries of Orix and are primarily engaged in power generation and associated services.
Under the proposed combination GEH and a subsidiary of GEH will acquire an equity stake in the Orix Wind SPVs from Orix and Orix will acquire an equity stake in GEH.