Business News | CCI Approves Oil Major Shell's Acquisition of Solenergi Power

New Delhi [India], July 12 (ANI): The Competition Commission of India (CCI) has approved the acquisition of Solenergi Power Private Limited by Shell Overseas Investments B.V.'s from Actis Solenergi Limited.

The proposal pertains to the acquisition of 100 per cent shareholding and sole control by the acquirer -- Shell Overseas Investments B.V.'s, CCI said in a statement on Tuesday.

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The acquirer company Shell Overseas Investments B.V.'s is incorporated in the Netherlands and is a part of the oil and gas firm Shell group.

Shell is the ultimate holding company and directly and indirectly, owns investments in various companies (Shell Group). Shell Plc's shares are listed on the London Stock Exchange, Euronext Amsterdam, and the New York Stock Exchange.

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The Shell Group is a global group of energy and petrochemical companies with 83,000 employees in more than 70 countries.

Solenergi Power is an investment company incorporated in Mauritius, belonging to the Actis group. It currently has investments in the renewable energy sector in India, the statement added.

Detailed order of the commission regarding the approval will follow, it added. (ANI)

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