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KKR Wins CCI Approval for Rs 6,000 Crore Stake in PETRONAS' Gentari Renewables India
KKR Wins CCI Approval for Rs 6,000 Crore Stake in PETRONAS' Gentari Renewables India
Global investment major KKR has received regulatory clearance from the Competition Commission of India (CCI) to acquire a stake in Gentari Renewables India. The approval allows KKR to proceed with its proposed investment in the clean energy platform, which is an indirect subsidiary of Malaysia's state-owned energy giant PETRONAS.
Global investment firm KKR has secured regulatory clearance from the Competition Commission of India (CCI) to acquire a stake in Gentari Renewables India. The approval, announced on Tuesday, permits KKR to proceed with its proposed investment in the clean energy platform, which is an indirect wholly-owned subsidiary of Malaysia's state-owned energy giant PETRONAS.
KKR will execute the transaction through its affiliate, Sapphire US HoldCo (USA), LLC. The company will subscribe to certain securities of Gentari Renewables India Pte Ltd, a firm engaged in power generation through renewable sources and battery energy storage solutions within India.
The regulatory nod follows an investment proposal announced in October, under which KKR is set to acquire a stake in the Indian business for approximately Rs 6,000 crore. The CCI's review ensures the transaction complies with competition law frameworks designed to prevent anti-competitive practices and maintain fair market conditions.
This deal expands KKR’s existing portfolio in India’s clean energy and power infrastructure sectors. The firm already holds investments in Hero Future Energies, Serentica Renewables, and IndiGrid, which focuses on power transmission and renewable energy infrastructure.
J.Scott--SFF
