CCI approves acquisition of Sembcorp Energy India by Tanweer Infrastructure SAOC

The Competition Commission of India (CCI) has approved the acquisition of Sembcorp Energy India Limited (SEIL) by Tanweer Infrastructure SAOC under the green channel route. Tanweer Infrastructure is indirectly owned by a consortium led by the Oman Investment Corporation SAOC (OIC) in partnership with the Ministry of Defence Pension Fund Oman. The proposed combination seeks to acquire 100 per cent shareholding of SEIL by Tanweer Infrastructure. Notably, in September 2022, Sembcorp Industries announced the sale of its entire stake in its Indian unit to an Omanese consortium for Rs 117.34 billion, as part of its decarbonisation drive. The CCI has confirmed that there is no (direct or indirect) horizontal, vertical, or complementary overlap between Tanweer Infrastructure and SEIL in any market in India. The combination is notifiable to CCI under section 5(a) of the Competition Act, 2002.