Adani Power calls off acquisition of DB Power

Adani Power has called off the acquisition of DB Power for Rs 7,017 crore after missing the latest deadline to complete the transaction, which expired on Wednesday.

“We wish to inform that the long stop date under the memorandum of understanding … has expired,” Adani Power informed the bourses on Wednesday. The company did not, however, assign a reason for calling off the deal. An email query sent to the company im this regard remained unanswered until the time of going to press on Thursday.