Adani Transmission Ltd on Saturday said it has entered into a pact with Essel Infraprojects to acquire Warora-Kurnool Transmission Ltd (WKTL) for an enterprise value of Rs 3,370 crore.
The acquisition is in sync with Adani Transmission’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, ATL said in a statement.
ATL, India’s largest private sector power transmission and retail distribution company, has signed definitive agreements with Essel Infraprojects for the acquisition.
The regulatory approval for substitution of original awardees in the contract by ATL has already been received from the Central Electricity Regulatory Commission.
The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction, the company said.
With this acquisition, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometres), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution.
