Power firm Adani Transmission has signed an agreement to buy entire stake in KEC International’s Rajasthan-based power transmission arm at an enterprise value of Rs 227.5 crore.
“We would like to inform that the company has signed share purchase agreement with KEC International Limited on November 3, 2018 for acquisition of its entire stake in KEC Bikaner Sikar Transmission Private Ltd,” Adani Transmission said in a regulatory filing.
KEC Bikaner Sikar Transmission Private Limited (KBSTPL) project comprises 400 KV D/C Bikaner-Sikar Line of 344 circuit kilometers. The project was awarded to the company through competitive bidding prices and commissioned in December 2017.
Adani Transmission said cost of acquisition of KBSTPL shares is at an enterprise value of Rs 227.5 crore subject to customary adjustments at closing. Read more
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