Competition Commission of India has actually okayed Reliance New Energy stake buy in Wilson RenewableNew Delhi: Competitors Commission of India (CCI) on Wednesday authorized the acquisition of shareholding in Sterling and Wilson Renewable Resource Limited by Reliance New Energy Solar Limited.According to a combination notice filed with the regulator, Reliance New Energy is seeking to acquire 40 percent of the overall voting equity share capital.However, acquisition can increase to 51.07 percent of equity share capital of Sterling and Wilson Renewable Energy in the possibility of full approval of the open offer.
Commission approves acquisition of shareholding in Sterling and Wilson Renewable Resource Limited by Reliance New Energy Solar Limited, according to the regulator's tweet.In India, Sterling and Wilson Renewable resource is taken part in solar engineering, procurement and construction services, and operation and upkeep services.