CAM, L&L, Khaitan lead on Adani Power's acquisition of GMR Chhattisgarh Energy for 3,530 crore

Bar & Bench August 11 2019

Adani Power has completed the acquisition of GMR Chhattisgarh Energy (GCEL), which owns and operates a 1,370 MW (2 X 685 MW) power plant at Raikheda village in Raipur.

52.38% of the equity stake in GCEL was acquired from its consortium of lenders, following the approval of Adani Power's resolution plan to acquire a controlling equity stake and restructure its debt. The balance 47.62% stake was acquired from GMR Group.

The acquisition of GCEL has concluded at an enterprise . . .

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