AdaniConnex to acquire Adani Power's subsidiary - Support Properties

AdaniConnex (ACX), a joint venture of Adani Enterprises has signed a Memorandum of Understanding (MoU) with Adani Power (APL) to acquire 100% equity shares of APL's wholly owned subsidiary namely, Support Properties. The object of the acquisition is to set up infrastructure facilities. The transaction is expected to be completed by January 2023. The acquisition will be done at an Enterprise Valuation of Rs 1,556.50 crore subject to adjustments on the closing date.

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