The Competition Commission of India (CCI) has approved a proposed deal in which an investment vehicle linked to KKR & Co. Inc. will subscribe to securities of Gentari Renewables India Pte. Ltd., a renewable energy business owned by Malaysia's Petronas group.
The acquirer is Sapphire US HoldCo (USA), LLC, a special purpose vehicle set up solely for this transaction. It is indirectly owned by vehicles and accounts advised and managed by various KKR subsidiaries.
The target
Gentari Renewables India is an indirect wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS). It generates power from renewable sources and offers battery energy storage in India.
What the release does not say
The CCI's release gives no deal value, stake size or timeline. Its approval means the proposed "combination" can go ahead from a competition standpoint; it does not describe the commercial terms.
Source: official release by the Competition Commission of India, issued through the Press Information Bureau, Government of India (04 NOV 2026 7:05PM by PIB Delhi). Read the full official text: Commission approves subscription of certain securities of Gentari Renewables India Pte. Ltd. by Sapphire US HoldCo (USA), LLC.
How we verified this
VerifiedEvery fact, figure and quotation is taken from the official PIB release (Release ID 2332720) issued by the Competition Commission of India on 04 NOV 2026 7:05PM by PIB Delhi; checked against the source on publication. Story written by BDT from that release; no outside facts added.
Sources
- 1.Commission approves subscription of certain securities of Gentari Renewables India Pte. Ltd. by Sapphire US HoldCo (USA), LLC — Press Information Bureau, Government of India
