JSW Energy Ltd. has terminated the ₹5,321 crore deal to acquire 100% stake of GMR Energy in GMR Kamalanga Energy having its plant in Odisha citing COVID-19 related uncertainties.
“With the elapsing of long stop date, both parties have mutually agreed to terminate the transaction given continued uncertainty due to Covid-19 pandemic,” JSW Energy Ltd said in a regulatory filing with the exchanges.
In February 2020 the company had signed definitive agreement to acquire the 1050 MW thermal power plant.
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