JSW Energy Limited Signs Share Purchase Agreement with GMR Energy Limited for Acquiring 100% Shares in its Subsidiary GMR Kamalanga Energy Limited

Source Press Release
Company JSW GroupGMR Group 
Tags Corporate Deals, Deals, Renewable Energy, Power
Date February 17, 2020

Dear Sirs,

Vide our communication dated 7 th October, 2019, we had informed you that the Company had entered into exclusive discussions with GMR Energy Limited ("GEL") for potential acquisition of its subsidiary, GMR Kamalanga Energy Limited ("GKEL"), which owns and operates a 1,050 MW (3x350 MW) thermal power plant in Odisha. We now wish to inform you that the Company has signed Share Purchase Agreement with GEL, pursuant to which the Company shall acquire 100% stake in GKEL for a total consideration of an amount up to Rs.5,321 crore (subject to working capital and other adjustments).

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