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CCI approves deal giving Tata Power 100 percent ownership of Tata BP Solar

By  |  February 26, 2012
CCI approves deal giving Tata Power 100 percent ownership of Tata BP Solar

The Competition Commission of India has approved Tata Power’s proposed acquisition of a 51 percent stake in Tata BP Solar from its joint venture partner BP Alternative Energy Holdings. The deal will leave Tata Power owning 100 percent of Tata BP Solar. The CCI found that the transaction would not create any adverse competition concerns, as Tata Power and Tata BP Solar are not engaged in the production, supply, distribution, storage, sale or trade of similar goods or services. Moreover, Tata Power and BP have entered into a technology agreement to grant BP continued access to certain BP technology until 2013.

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    Source: The Hindu Business Line

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