Business Update24 Dec 2023, 01:30 pm
Adani Power Limited Receives Letter of Intent for Acquiring Coastal Energen Private Limited
AI Summary
Adani Power Limited, part of a consortium, has received a Letter of Intent from the Resolution Professional for acquiring Coastal Energen Private Limited, subject to approvals from the NCLT and other regulatory authorities. This is a significant development in the company's efforts to acquire the stressed asset.,
Key Highlights
- Adani Power Limited receives Letter of Intent for acquiring Coastal Energen Private Limited
- Consortium of Adani Power Limited approved by Committee of Creditors
- Implementation of resolution plan subject to approvals from NCLT and other regulatory authorities