India, Nov. 4 -- The Competition Commission of India (CCI) has approved the proposed subscription of certain securities of Gentari Renewables India Pvt. Ltd. by Sapphire US HoldCo (USA), LLC.
Sapphire US HoldCo (USA), LLC, the acquirer, is a special purpose vehicle established specifically for the proposed transaction. It is indirectly owned by investment vehicles and accounts advised and managed by subsidiaries of global investment firm KKR & Co. Inc.
Gentari Renewables India Pvt. Ltd., the target company, is an indirect wholly owned subsidiary of Malaysia's Petroliam Nasional Berhad (PETRONAS) and part of the PETRONAS Group.
The company operates in India's renewable energy sector, focusing on power generation through renewable energy s...