Gautam Adani-led Adani Power Ltd has agreed to buy the thermal power assets of DB Power Limited (DBPL) for nearly Rs Rs 7,017 crore enterprise valuation, the company announced on Friday.
AZB & Partners advised DB Group and B. Willowbay Investment Ltd, an affiliate of Warburg Pincus LLC in the Acquisition of 100% of the share capital of DPPL, by Adani Power. The AZB and partners team consisted of Partners, Anil Kasturi, Niladri Maulik, Siddharth Khanna, Ram Kumar Poornachandran and Hemangini Dadwal, and Senior Associate, Nikita Agarwal.
Both sides signed an agreement for the all cash deal on Friday afternoon. The initial term of the MOU shall be till completion of the acquisition on October 31, 2022, which may be extended by mutual agreement.
DB Power has 2 units of 600 MW each of thermal power in Janjgir-Champa district, Chattisgarh.
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