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JSW mulls buying GMR’s Odisha plant

While shares of JSW Energy settled at Rs 60.55, higher by 2.02 per cent, GMR Infrastructure stock closed at Rs 16.40, down 0.91 per cent on Monday.

Published: 08th October 2019 08:17 AM  |   Last Updated: 08th October 2019 08:17 AM   |  A+A-

JSW

The logo of JSW is seen on the company's headquarters in Mumbai, India. (File Photo | Reuters)

By Express News Service

NEW DELHI: Energy majors JSW Energy and GMR Infrastructure have entered into exclusive negotiations for the sale of the latter’s thermal power plant in Odisha, according to two separate statements filed on Monday.

"JSW Energy Limited has entered into exclusive discussions with GMR Energy Limited for potential acquisition of its subsidiary, GMR Kamalanga Energy Limited, which owns and operates a 1050 MW thermal power plant in Odisha," JSW Energy said in a BSE filing on Monday. GMR Infrastructure also released a similar statement, but neither company has disclosed any financial details.

"Both parties intend to conclude these discussions in an expeditious manner," JSW Energy said.

While shares of JSW Energy settled at Rs 60.55, higher by 2.02 per cent, GMR Infrastructure stock closed at Rs 16.40, down 0.91 per cent.



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