JSW Energy is in exclusive talks with GMR Energy to buy the latter's Odisha power plant for Rs 5,200 crore, reported Business Standard, citing people privy to the development. The GMR subsidiary operates a 1,050 megawatt (Mw) power plant in Odisha, the report said.
“We wish to inform you that JSW Energy has entered into exclusive discussions with GMR Energy for a potential acquisition of its subsidiary, GMR Kamalanga Energy," JSW said in its statement to the BSE.
“Both parties intend to conclude these discussions in an expeditious manner,” the statement added. The companies, however, have not disclosed the valuation for the asset.
If the deal is concluded, it will be JSW Energy's first power acquisition after four years. In 2015, it had acquired two hydropower assets from Jaiprakash Power Ventures for Rs 9,700 crore.
First Published: Oct 8, 2019 9:53 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | Will Amethi and Rae Bareli see the rise of Priyanka Gandhi as a dominant political figure
May 18, 2024 8:59 AM
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM