M&A

M&A

Greenko to buy bankrupt Athena Demwe for Rs.629-Cr

The New Delhi bench of the National Company Law Tribunal (NCLT) has approved the acquisition of Athena Demwe Power Ltd (ADPL) by Greenko Energy through the insolvency resolution process. Greenko’s INR 629 crore bid ensures full repayment to secured creditors.ADPL is involved in the development and ownership of the 1,750 MW Lower Demwe hydroelectric project in Arunachal Pradesh.Earlier bidders for the firm included Jindal Power, THDC India and Orissa Metaliks.