The Competition Commission of India (CCI) has granted approval for the subscription of certain securities of Gentari Renewables India Pte. Ltd. by Sapphire US HoldCo (USA), LLC. The acquirer, Sapphire US HoldCo (USA), LLC, is a special purpose vehicle incorporated solely for this transaction and is indirectly owned by vehicles and/or accounts advised and managed by various subsidiaries of KKR & Co. Inc. The target company, Gentari Renewables India Pte. Ltd., is an indirect wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS) and operates within the PETRONAS group. The company is engaged in power generation through renewable energy sources and provides battery energy storage solutions specifically in the Indian market. This approval represents a regulatory clearance for foreign investment in India's renewable energy sector.
CCI Approves KKR's Gentari Renewables India Investment
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