CCI approves NTPC’s acquisition of THDC India, Neepco
25 Feb 2020
National Thermal Power Corporation (NTPC) on Monday said it has received approval from the Competition Commission of India for its acquisition of the central government’s stake two in power generation and distribution companies – THDC India Ltd and Neepco.
NTPS said the CCI has approved its acquisition of Government of India’s 74.50 per cent stake in the issued and paid-up share capital of THDC India Limited.
NTPC, a Maharatna company, is mainly engaged in power generation through coal-based thermal power plants and is the country’s largest power producer. NTPC is also engaged in the business of generation of electricity from hydro and renewable energy sources.
THDC is a government company with 74.50 per cent of its total shares held by the central government and 25.50 per cent shares held by the government of Uttar Pradesh as of 31 March 2019. THDC is a central public sector unit and under the administrative control of the ministry of power.
CCI also approved NTPC’s acquisition of 100 per cent of issued and paid-up share capital of North Eastern Electric Power Corporation Neepco from the central government.
Neepco is a power utility, primarily operating in the north-eastern region of India, engaged in generation of power through hydro, thermal and solar power stations.
CCI said it approved both the proposed combinations under Section 31(1) of the Competition Act, adding that detailed orders will follow.