CCI approves Reliance arm's acquisition of stake in SWREL

New Delhi: The Competition Commission of India (CCI) on Wednesday approved the acquisition of shareholding in Sterling and Wilson Renewable Energy Ltd (SWREL) by Reliance New Energy

Solar Ltd.

According to a combination notice filed with the regulator, Reliance New Energy is seeking to acquire 40 per cent of the total voting equity

share capital.

However, acquisition can go up to 51.07 per cent of equity share capital of Sterling and Wilson Renewable Energy Ltd in the eventuality of full acceptance of the

open offer.

"Commission approves acquisition of shareholding in Sterling and Wilson Renewable Energy Limited by Reliance New Energy Solar Limited," according to the regulator's tweet.

In India, Sterling and Wilson Renewable Energy Ltd is engaged in solar engineering, procurement and construction solutions, and operation and maintenance

services.