Adani Transmission inks pact to acquire MPSEZ utilities for Rs 1.16 billion

Adani Transmission has inked a share purchase pact with Adani Ports and Special Economic Zone to acquire MPSEZ Utilities (MUL) for Rs 1.16 billion.

Adani Transmission will acquire 13,135,000 (100 per cent) equity shares of Rs10 each of MPSEZ Utilities. Presently, the total distribution network of MUL is around 100 kms, consisting of 75 kms underground and a 25 kms overhead network. The deal will be concluded within five days subject to completion of other conditions precedent as per the share purchase agreement.

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