Gautam Adani-led Adani Power Ltd has agreed to buy the thermal power assets of DB Power Limited (DBPL) for nearly Rs Rs 7,017 crore enterprise valuation, the company announced on Friday.
Both sides signed an agreement for the all cash deal on Friday afternoon. The initial term of the MOU shall be till completion of the acquisition on October 31, 2022, which may be extended by mutual agreement.
DB Power has 2 units of 600 MW each of thermal power in Janjgir-Champa district, Chattisgarh.
In its regulatory filing, Adani Power said, “The acquisition will help the company to expand its offerings and operations in the thermal power sector in the state of Chhattisgarh.”
