CCI okays Jaypee-Suraksha Group deal to sell 5 wind projects
These plants are located in Maharashtra and Gujarat.
Jaiprakash Associates is the flagship company of diversified Jaypee group, which has interests in engineering, cement, power and realty, among others.
In a tweet, Competition Commission of India (CCI) said it has approved “acquisition of five wind power plants of Jaiprakash Associates Limited by Suraksha Group entities.”
For the combination, the regulator considered ‘transfer of wind power generation plants in the states of Gujarat and Maharashtra’ as the relevant market.
Last September, the company’s board approved the proposal to divest wind power plants in Maharashtra and Gujarat, having an aggregate capacity of 49 MW, on slump sale basis.
Mumbai-based Suraksha Group provides an integrated security services to the various establishments, offices, such as industry houses, factories, industrial estates, housing societies, bungalows etc, within the country.