The Competition Commission of India (CCI) has approved the subscription of certain securities of Gentari Renewables India Pte. Ltd. by Sapphire US HoldCo (USA), LLC, according to an official release by the regulator.
Sapphire US HoldCo is a special purpose vehicle established solely for this transaction. It is indirectly owned by vehicles and accounts managed or advised by subsidiaries of investment firm KKR & Co. Inc.
Gentari Renewables India is an indirect wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS). The company operates in India, providing power generation through renewable energy sources alongside battery energy storage solutions.
What it means
- Sapphire US HoldCo (USA), LLC is allowed to acquire securities in Gentari Renewables India Pte. Ltd. following CCI approval.
Source
Press Information Bureau, Government of India, “Commission approves subscription of certain securities of Gentari Renewables India Pte. Ltd. by Sapphire US HoldCo (USA), LLC”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
Official RBI, SEBI, Government and Defence updates as they happen.
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