CCI Approves BlackRock-Backed Investment in Aditya Birla Renewables

The Competition Commission of India (CCI) has approved the subscription of certain equity share capital of Aditya Birla Renewables (ABReN/ Target) by GIP EM Star (Acquirer).

The Acquirer is incorporated in Singapore and is owned by certain funds managed by GIM EM Manager LLC. GIM EM Manager LLC is wholly owned by Global Infrastructure Management, LLC (GIM). GIM is an indirectly majority-owned subsidiary of BlackRock, (BlackRock).

BlackRock is a U.S. publicly traded company active in the provision of global investment management, risk management, and advisory services to institutional and retail clients around the world. BlackRock manages assets on behalf of institutional and individual investors worldwide.

Target is headquartered in Mumbai, India. Target, along with its subsidiaries, is engaged, inter alia, in the business of power generation through renewable energy resources, including solar and wind power.

The detailed order of the Commission will follow soon.