Acquisition through proposed issuance convertible notes
The Competition Commission of India (CCI) has approved the acquisition of certain shareholding in Greenko Energy Holdings of ORIX Corporation by AMG Green Power B.V. and subscription of certain convertible notes of AM Green (Luxembourg) S.À.R.L by ORIX Corporation.
The Proposed Combination envisages the proposed acquisition by AMG Green Power B.V. (AMG Power) of certain shareholding in Greenko Energy Holdings (GEH) from ORIX Corporation (ORIX) and proposed issuance of certain convertible notes by AM Green (Luxembourg) S.À.R.L (AMG Lux) to ORIX.
AMG Power is a newly incorporated entity and is currently not engaged in any business activities either in India or outside India. AMG Lux is a holding company and does not have any business operations either in India or outside India.
ORIX is the holding company of the ORIX group offering a wide variety of services, including corporate financial services (financing, leasing, and solutions for small and medium-size enterprises), maintenance leasing (automobile leasing, rental and car sharing and IT-related equipment rentals and leasing), real estate, private equity investments, life insurance, banking and credit, asset management, environment and energy services (including power generation).
In India, ORIX, directly or indirectly is engaged in automobile leasing, commercial vehicle loans, provision of financial services, infrastructure investment, asset management services and power generation.
GEH is a player in the renewable energy sector, focusing on building and operating clean energy assets. In India, GEH operates a portfolio of renewable energy assets, consisting of wind, solar, hydro, and energy storage technologies spread across states, the CCI said on 11 Mar. fiinews.com
