Gautam Adani-led Adani Ports and Logistics today signed a share purchase agreement with Adani Transmission Limited (ATL) for disinvestment of 100 per cent equity stake in MPSEZ Utilities Limited (MUL). MUL’s revenue for the financial year 2020-21 was 203.31 crores.
The sale process will be completed within 25 days, subject to the fulfillment of the illustrative (CP) of other conditions as per the share purchase agreement. on sale consideration 116.27 crore, which is based on the reports of independent assessors, the company said in a stock exchange filing.
Both ATL and APSEZ belong to the common promoter Adani Group, and the acquisition is done on “arms length” basis.
Meanwhile, Adani Green Energy yesterday signed a power purchase agreement (PPA) with the state-owned Solar Energy Corporation (SECI) for supplying 4.66 gigawatt (GW) of renewable energy.
The company said, “The AGEL-SECI agreement for supply of 4,667MW is part of the 8,000MW manufacturing-linked solar tender awarded by SECI to AGEL in June 2020, which has set the record for being the world’s largest solar development tender ever.” has made.” ,
Adani Ports stock closed today down 18.40 or 2.41 percent 745.30 on NSE.
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