CCI Clears Adani Energy Solutions Acquisition of IntelliSmart Infrastructure

The Competition Commission of India has approved Adani Energy Solutions Limited's proposed acquisition of IntelliSmart Infrastructure Private Limited. The transaction covers 100% of IntelliSmart's equity share capital and is proposed to be completed through purchases from the National Investment and Infrastructure Fund and Energy Efficiency Services Limited.

Adani Energy Solutions is a listed company involved in electricity transmission and distribution as well as the deployment of advanced metering infrastructure. IntelliSmart also works in advanced electricity metering infrastructure and has a presence in the deployment of smart gas meters in India.

CCI approval addresses the competition-law stage of the proposed combination. The regulator's short public notice records the parties and the structure of the transaction but does not, by itself, describe the commercial closing timetable. Any remaining contractual or regulatory conditions will have to be completed by the parties before the acquisition is concluded.