CCI Approves Acquisition of Certain Equity Shareholding in Continuum Green Energy by Chubu Electric Power

The Competition Commission of India (CCI) has approved the acquisition of certain equity shareholding in Continuum Green Energy Limited by Chubu Electric Power Company Netherlands B.V.

The proposed combination involves both primary subscription and secondary purchase of equity shares in Continuum Green Energy Limited from Continuum Green Energy Holdings Ltd., Singapore.

Acquirer: Chubu Electric Power Company Netherlands B.V.

Chubu Electric Power Company Netherlands B.V. is a private limited company incorporated under the laws of the Netherlands and is a wholly owned subsidiary of Chubu Electric Power Co., Inc., Japan (CHUBU).

The Acquirer undertakes investment, management, financing and treasury-related functions for the CHUBU Group. CHUBU is a public limited company listed on recognised stock exchanges in Japan and is engaged in power generation, distribution and transmission, including generation through renewable sources such as solar and wind, as well as nuclear power.

Target: Continuum Green Energy Limited

Continuum Green Energy Limited is a public limited company incorporated under Indian law. The Target and its various subsidiaries in India are primarily engaged in the sale and generation of power through renewable sources, including wind and solar.

The CCI's approval relates to the proposed acquisition of certain equity shareholding in the Target by Chubu Electric Power Company Netherlands B.V. through the specified primary subscription and secondary purchase transactions.