CCI Approved – Summit India(Tripura) to Acquire 23.5% Stake in OTPC & SVF II Songbird to Buy Stake in Swiggy.
Economy Business
Competition Commission of India (CCI) Approved – Summit India(Tripura) to Acquire 23.5% Stake in OTPC & SVF II Songbird to Buy Stake in Swiggy. The transaction represents a credible business opportunity for Summit India (Tripura) as ONGC Tripura Power Company operates a 726.6 MW, fully operational natural gas based power plant in Palatana, Tripura, supplying power to the region of North-East India. Laying down the purpose of proposed transaction, the notice said Summit India (Tripura) is expected to bring in best practices to ONGC Tripura Power Company. CCI approved the acquisition of stakes in Bundl Technologies Private Limited, a private limited company incorporated in India and is engaged in operating Swiggy, by the SVF II Songbird, a SoftBank Group entity.
OTPC HQ- Gomati, Tripura; MD- Sanil C. Namboodiripad
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