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JSW Energy in talks to acquire GMR's thermal power plant in Odisha

"JSW Energy Limited has entered into exclusive discussions with GMR Energy Limited for potential acquisition of its subsidiary, GMR Kamalanga Energy Limited, which owns and operates a 1050 MW thermal power plant in Odisha," JSW Energy said in a BSE filing on Monday.

PTI PTI
New Delhi Published on: October 07, 2019 16:43 IST
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JSW Energy in talks to acquire GMR's thermal power plant in Odisha

 JSW Energy and GMR Infrastructure have entered into exclusive discussions regarding the sale of GMR's thermal power plant in Odisha, both the companies informed the stock exchange.

"JSW Energy Limited has entered into exclusive discussions with GMR Energy Limited for potential acquisition of its subsidiary, GMR Kamalanga Energy Limited, which owns and operates a 1050 MW thermal power plant in Odisha," JSW Energy said in a BSE filing on Monday.

Meanwhile, in a separate filing, GMR Infrastructure Ltd said GMR Energy Limited, a subsidiary of the company has entered into exclusive discussions with JSW Energy Limited for potential divestment of its entire stake in its subsidiary company GMR Kamalanga Energy Limited.

Both the companies however, did not disclose the financial details of the deal.

"Both Parties intend to conclude these discussions in an expeditious manner," JSW Energy said.

Shares of JSW Energy settled at Rs 60.55, higher by 2.02 per cent on BSE.

Meanwhile, the GMR Infrastructure stock closed at Rs 16.40, down 0.91 per cent on BSE.

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