Adani Transmission to Acquire KEC International’s Transmission Project
Adani Transmission has reportedly entered into an agreement with KEC International for acquiring a transmission project, as the billionare Gautam Adani-led company continues to snap up power assets.
It has been stated that Adani Transmission will buy KEC Bikaner Sikar Transmission for an enterprise value of Rs 227.5 crore ($31 million) in cash.
This particular acquisition is in sync with the company’s strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities as mentioned by the company, and, this transaction is expected to be completed in two to three months subject to all necessary regulatory approvals.
Vimal Kejriwal, the managing director and chief executive at KEC International mentioned that the sale is in line with its strategy of ...