JSW Energy inks pact to acquire 100% stake in GMR Kamalanga
New Delhi: JSW Energy Ltd has signed a share-purchase agreement with GMR Energy Ltd to acquire 100% stake in the latter’s subsidiary GMR Kamalanga Energy Ltd, which owns and operates a 1,050 MW thermal power plant in Odisha, JSW Energy informed the stock exchanges on Monday.
The transaction, the discussions of which had started in October, is valued at ₹5,321 crore, subject to working capital and other adjustments, and is expected to be completed in three months, the Sajjan Jindal-led company said.
The deal is yet to receive approvals from the Competition Commission of India (CCI), lenders of GMR Kamalanga and Industrial Development Corporation of Odisha (IDCO), JSW Energy said.
