The JSW Energy on Friday said it has terminated its Rs 5,321-crore deal to acquire the Odisha (Dhenkanal)-based GMR Kamalanga Energy due to the Covid-19 situation.
Both parties have mutually agreed to terminate the transaction, the JSW Energy said in its BSE filing. The transaction would be revisited once the situation normalises, it said.
In February, the JSW Energy had signed a share purchase agreement to acquire 100% of GMR Kamalanga Energy, which owns and operates a 1,050-MW (3×350 MW) thermal power plant, for Rs 5,321 crore (subject to working capital and other adjustments).
