M&A

M&A

Undone: Adani Power's Rs.7,017-Cr deal to buy DB Power assets falls through

Rediff  

Adani Power Ltd's INR 7,017-crore deal to buy thermal power assets of DB Power has fallen after the initial pact expired. The group had entered into a memorandum of understanding (MoU) dated August 18, 2022 to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. The initial term of the MoU was October 31, 2022. Later the deadline for the transaction got four extensions till November 30, 2022, December 31, 2022, January 15, 2023 and finally February 15, 2023.