M&A

M&A

Adani Power gets NCLT nod to to acquire Lanco Amarkantak Power for Rs.4,101-Cr

Mint  

The Hyderabad bench of the National Company Law Tribunal (NCLT) has approved Adani Power’s plan to acquire 100% stake in Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of INR 4,101 crore. LAPL is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code.LAPL operates a 2x300 MW (600 MW) thermal power plant (Phase-I) located in Pathadi Village, Korba District, Chhattisgarh. The acquisition is expected to bolster APL’s position as India's leading private sector power producer, with a combined operational capacity of 15,850 MW.