CCI approves Tata Power acquiring stakes in Tata BP solar JV

Competition watchdog CCI has approved the proposal of Tata Power to acquire remaining 51 per cent stake in Tata BP Solar from joint venture partner BP Alternative Energy Holdings. In an order, the Competition Commission of India noted that TPCL (Tata Power) and TBCL (Tata BP Solar) are not engaged in production, supply, distribution, storage, sale or trade of "similar or identical or substitutable goods or provision of services". "The proposed acquisition of further 51 per cent of the equity share capital of TBSL and other securities, if any, by TPCL is not likely to create any adverse competition concern... the Commission hereby approves the proposed combination under section(1)of section 31 of the Act," it said.

Source: Economic Times