CCI approves acquisition of NTPC’s stake in THDC and NEEPCO

The Competition Commission of India has given its nod to the acquisition of the central government’s entire stake in THDC India Limited and North Eastern Electric Power Corporation Limited (NEEPCO) by NTPC Limited. As part of the transactions, NTPC will acquire 100 per cent of the issued and paid-up share capital of NEEPCO and a 74.5 per cent stake in THDC India. The remaining 25.5 per cent stake in THDC India is held by the Uttar Pradesh government. In a separate development, the proposed merger of REC Limited with the Power Finance Corporation has hit a roadblock and is not likely to happen in the near future as it would violate the Reserve Bank of India’s norms on the exposure of non-banking financial companies.

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