The Competition Commission of India (CCI) has approved the acquisition of certain equity shareholding in Continuum Green Energy Limited by Chubu Electric Power Company Netherlands B.V.

The Proposed Combination comprises acquisition of certain equity shareholding in Continuum Green Energy Limited (Target) by Chubu Electric Power Company Netherlands B.V. (Acquirer) by way of both primary subscription and secondary purchase of the equity shares from Continuum Green Energy Holdings Ltd., Singapore.

The Acquirer is a private limited company, incorporated under the laws of Netherlands and is a wholly owned subsidiary of Chubu Electric Power Co., Inc., Japan (CHUBU). The Acquirer is engaged in the activities related to investment, management, financing and treasury related functions for the CHUBU Group. CHUBU is a public limited company listed on recognized stock exchanges in Japan and is engaged in the business of generation, distribution and transmission of power generated through renewable sources such as solar, wind, nuclear etc., among other activities.

The Target is a public limited company incorporated under the laws of India. The Target and its various subsidiaries in India are primarily engaged in the business of sale and generation of power through renewable sources such as wind and solar.

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SR/ONP

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