Adani Power deal to acquire DB Power assets falls through

Adani Power Limited’s Rs 70.17 billion deal to buy thermal power assets of DB Power Limited has fallen through after the long stop date under the MoU dated August 18, 2022 expired. In August 2022, Adani Power had informed the bourses that it had agreed to acquire DB Power, which owns and operates a 2×600 MW thermal power plant at Janjgir Champa in district in Chhattisgarh. The initial term of the MoU was till October 31, 2022. Later, the deadline for the transaction got four extensions till November 30, 2022, December 31, 2022, January 15, 2023 and February 15, 2023.