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GAIL emerges highest bidder for IL&FS wind power plants-- The 20th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
4/26/2019 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Indian Express reported that GAIL (India) has emerged as the highest bidder for seven operating wind power plants of Infrastructure Leasing & Financial Services. The bidding process to these assets, having 12 sites spread across seven states, was launched in November last year. IL&FS said that “Gail’s offer of approximately INR 4,800 crore for 100 per cent enterprise value contemplates no hair-cut to the debt of the SPVs, aggregating to nearly INR 3,700 crore. These wind power assets have a total generation capacity of 874 MW.” It added that the proposal was approved by the committee of creditors of IL&FS Wind Energy, majority owner of the SPVs.
The company said that engagement with ORIX Japan, the other shareholders in the SPVs, with regard to the proposal is in progress, and the deal is expected to close in three weeks.
The sale proceeds will be distributed as per the resolution framework filed with the National Company Law Appellate Tribunal by the government. The closure of the deal will be subject to approval of Justice (Retd) D K Jain and NCLT
金属板材展-线材展-金属加工展-2019第二十届广州国际金属板材、棒材、线材及金属加工设备展—全球三大金属展之一巨浪展览
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