Acquisitions23 Nov 2024, 12:26 am
CESC Subsidiary, Eminent Electricity Distribution Limited, Receives Letter of Intent for Acquiring 100% Shares in Chandigarh Electricity Distribution Company
AI Summary
CESC Limited's subsidiary, Eminent Electricity Distribution Limited, has received a Letter of Intent for acquiring 100% shares in a distribution company responsible for distribution and retail supply of electricity in the Union Territory of Chandigarh. The deal is worth Rs. 871 Crore, subject to the terms and conditions as contained in the LOI.
Key Highlights
- CESC Limited's subsidiary, Eminent Electricity Distribution Limited, is set to acquire 100% shares in a Chandigarh-based electricity distribution company.
- The deal is worth Rs. 871 Crore.
- The acquisition is subject to the terms and conditions as contained in the Letter of Intent.
- The acquisition will enhance CESC Limited's presence in the electricity distribution sector.
- The acquisition is a significant move for CESC Limited in its growth strategy.