Torrent Power inks pacts to acquire 51 pc stake in power distribution utility of Dadra and Nagar Haveli

Torrent Power has inked agreements to acquire 51 per cent equity of Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Ltd. “Torrent Power Limited has entered into a Share Purchase Agreement (SPA) and Shareholders Agreement (SHA) with Administrator of the Union Territory of Dadra and Nagar Haveli and Daman and Diu (Holding Entity) and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Ltd (the SPV) for purchase of 51 per cent Equity Share Capital of the SPV (special purpose vehicle) from the Holding Entity,” a company statement said.