CCI nod for Suraksha Group, Jaiprakash Associates wind power deal.

The Competition Commission of India recently approved Suraksha Group’s acquisition of five wind power plants of Jaiprakash Associates Ltd.

'CCI India approves acquisition of five wind power plants of Jaiprakash Associates Ltd. by Suraksha Group entities,' the competition watchdog tweeted recently.

The purchasers are Suraksha Realty Ltd., Vision Finstock LLP, Sejraj Financial Services, Fortune Integrated Assets Finance Ltd, Vijay Suraksha Realty LLP.

The board of directors of Jaiprakash Associates on September 30, 2015 had approved the proposal to divest its wind power plants in Maharashtra and Gujarat on slump sale basis. The move is aimed at reducing its debt.

Wind power plants in Maharashtra and Gujarat have an aggregate capacity of 49 megawatt. Jaiprakash Associates is the flagship company of the Jaypee group and is engaged in engineering and construction, cement, real estate and hospitality businesses.

HBL