The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100 percent shareholding of Coastal Energen by Dickey Alternative Investment Trust and Adani Power.
Coastal Energen (CEPL) is engaged in the business of generation and sale of power using coal. It owns and operates an imported coal based thermal power plant at Tuticorin, Tamil Nadu. CEPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (I&B Code).
The Dickey Alternative Investment Trust (DAIT), is a category II AIF registered with the Securities and Exchange Board of India (SEBI), housing three separate schemes registered with SEBI, Dickey Vision Fund, Dickey Mudra Fund and Dickey Opportunities Fund. The DAIT has investments across multiple sectors including but not limited to real estate, technical and management consultancy, and energy generation.
