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Web Exclusive | October 2016

CCI approves sale of Jaiprakash's Bina unit to JSW

Fair trade regulator, the Competition Commission of India (CCI) has approved JSW Energy Limited’s buy-out of Jaiprakash's Bina Power Supply Limited. “The consideration of sale of entire securities of BPSL to be received from JSW Energy is linked to a base enterprise value of Rs 2,700 crore, subject to mutually agreed adjustments,” a statement from Jaiprakash Power said. JSW Energy signed a binding MoU with Jaiprakash Power Ventures to buy its 500 MW Bina power plant. This will help Jaiprakash Power, which had a debt of Rs 22,414.94 crore to reduce interest outgo.
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