M&A M&A
Tata Power acquires Odisha’s Paradeep Transmission for Rs 19-Cr
Source Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Publicly-listed Tata Power has acquired 100% stake in Paradeep Transmission Ltd, a special purpose vehicle (SPV) for INR 18.64 crore in cash. The acquisition also involves one time settlement of outstanding debt.Paradeep Transmission was set up as an SPV on a Build-Own-Operate-Transfer (BOOT) basis, to provide transmission service for Eastern Region Expansion Scheme-XXXIV which comprises Angul to Paradeep (~190 km of 765 KV D/C line), Paradeep 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCLParadeep (400 KV GIS).