CCI gives nod to KKR purchasing stake in Hero Future Energies Global – EQ Mag
The purchase of stakes concerning Hero Future Energies Global is approved by the competition commission of India or CCI on Thursday for Ardor Holdings II Pte. Ardor Holdings II Pte is a special vehicle for investment at the firm KKR and Co inc. in other words, Ardor Holdings II Pte is a vehicle that is indirectly owned by vehicles or investment funds. In addition, Ardor Holdings II Pte is managed by a KKR & Co. Inc subsidiary.
Hero Future Energies Global Limited is a private corporation from England as well as Wales. The main target of this business is to set up and acquire projects for plants that are engaged in solar power and wind power generation.
This business also operates in India (Hero Future Energies Private Limited India) under Indian Companies Act, 1956.
These shares will be subsequently converted into equity shareholding. Official releases stated that the competition commission of India or CCI had approved shares of convertible preferences of Hero Future Energies Global Ltd. HFE is the right hand for renewable energy of The Hero group.
In a press release, the regulator also stated and confirmed that Shobana Kamineni had bought 20% of Keimed Pvt Ltd’s equity share capital. The capital was acquired through Prime Time Logistics Technologies Pvt Ltd or PTL.
The acquisition of shares and capital concerning Mitsui & Co. (Asia Pacific) Pte Ltd is based on the combination related to the business of pharmaceuticals, sales, wholesale, etc.
A few other deals beyond the threshold are yet to be approved by the competition commission of India or CCI. The proverb of these deals will be based on promoting fair and clean competition in the market as well as keeping practices related to unfair business aside.
Source: PTI
