Adani Power extends timeline to complete acquisition of DB Power till Dec 31

New Delhi: Adani Power said on Monday that the timeline for the completion of Rs 7,017-crore deal to acquire thermal power assets of DB Power Limited has been extended by one month till December 31. Earlier, the company had extended the timeline for completion by a month till November 30. "Parties to the proposed transaction have mutually agreed to further extend the long stop date as December 31 for achieving the closing/completion," said the company in a BSE filing.

Adani Power agreed to acquire DB Power in Aug

Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power) which owns and operates a running 2×600 MW thermal power plant at district Janjgir Champa in Chhattisgarh.

DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Limited (CIL) and has been operating its facilities profitably.

Adani Power to acquire DB Power for Rs 7,017 crore

"The initial term of the MOU shall be till October 31 which may be extended by mutual agreement. The enterprise value of DB Power was estimated at Rs 7,017 crore, subject to adjustments on the closing date," Adani Power had said.

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