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Billionaire Adani Is Said To Near Acquisition Of Gmr Power Plant

by bloomberg.com posted 3weeks ago 52 views
Indian billionaire Gautam Adani’s energy unit is nearing a deal to acquire a 1,370-megawatt thermal power plant backed by GMR Infrastructure Ltd., according to people with knowledge of the matter. Adani Power Ltd. will take over about 38 billion rupees ($543 million) of loans out of a total of 58 billion rupees that GMR Chhattisgarh Energy Ltd. owes, said the people, who asked not to be identified because the information is private. Adani Power will also assume non-funded liabilities of about 14 billion rupees, the people said.