Indian firm gets nod to buy Mmamabula

Jindal Steel and Energy has submitted a two Canadian Dollar per share (P15 per share) 100 percent bid for the Canadian company which has since 2006 suffered a string of setbacks in trying to spring the 1,200MW project to life.

In a statement released yesterday, the CA said they had determined to authorise the proposed acquisition on the grounds that there is no evidence of any substantive competition concerns that the proposed deal will raise in the energy and coal markets in Botswana.