Adani Power to acquire Lanco Amarkantak Power for Rs 41.01 billion

Adani Power announced that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 41.01 billion. LAPL is currently undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code. Under the approved plan, Adani Power will acquire 100% shareholding in LAPL for cash. LAPL operates a 2×300 MW (600 MW) thermal power plant in Korba, Chhattisgarh,…