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Bhubaneswar: The Competition Commission of India (CCI) has approved the proposed 49% acquisition of the total equity share capital of Odisha Power Generation Corporation Limited (OPGC) by Adani Power Limited (APL).
In June, Adani Power announced to acquire US-based The AES Corporation’s 49 per cent stake in OPGC for USD 135 million (around Rs 1,019 crore). APL, is a public listed company and its shares are listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited.
It is a part of the Adani Group, which is inter-alia engaged in the business operations of generation, transmission and distribution of power in India. APL is primarily engaged in the business of power generation.
OPGC, incorporated in Odisha, is a joint venture between the Odisha government, AES India Private Limited and AES OPGC Holding and operates as a state government company.
OPGC is engaged in the business of power generation. Odisha government holds 51 per cent stake in OPGC.
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