Adani Enterprises’ joint venture company -- AdaniConnex (ACX) has signed Memorandum of Understandings (MoUs) with Adani Power (APL) to acquire 100% equity stake of two wholly owned subsidiaries of APL namely (i) Aviceda Infra Park and (ii) Innovant Buildwell. The object of acquisition is to set up infrastructure facilities. The transactions are expected to complete by March 31, 2024. Aviceda Infra Park’s acquisition will be done at Rs 190 crore, subject to adjustments on the closing date. Innovant Buildwell’s acquisition will be done at Rs 350 crore subject to adjustments on the closing date.
Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.
