Power Finance Corporation’s Acquisition of 52% Stake in REC Approved
The acquisition had received an in-principle approval from the government, and was awaiting approvals from the Competition Commission and Reserve Bank of India
February 8, 2019
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The Competition Commission of India has announced that it has approved Power Finance Corporation’s (PFC) acquisition of 52% stake in Rural Electrification Corporation (REC). In December 2018, the acquisition received an in-principle approval from the Cabinet Committee on Economic Affairs (CCEA).
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