Adani closes KEC's Transmission asset acquisition deal, buys 100% stake

Adani Transmission Ltd (ATL) announced closure in its acquisition of 100 per cent stake of KEC International Limited in the latter's transmission asset. In November 2018, both ATL and KEC International had signed a share purchase agreement for the acquisition of the latter's stake in KEC Bikaner Sikar Transmission Private Limited.

KEC Bikaner Sikar Transmission Private Limited project comprises 400 kV D/C operational transmission lines between Bikaner and Sikar aggregating 344 circuit (ckt) kilometres at an enterprise value of Rs 227.5 crore in Rajasthan. The project was awarded through a competitive bidding process and was commissioned in December 2017 –