Adani Enterprises shareholders, creditors clear biz rejig plan

Adani Enterprises today said its shareholders and creditors have approved the restructuring of group businesses involving ports, power, mining and transmission assets.
Under the rejig plan, announced in January this year, Adani group would consolidate its ports, power and mining assets into three separately listed firms and would list a new company for transmission business.
In a regulatory filing, Adani Enterprises, the group's flagship company, said equity shareholders as well as secured and unsecured creditors have approved the scheme with requisite majority.
Following directions from the High Court of Gujarat, the meeting of equity shareholders, secured and unsecured creditors was convened on April 20.

The composite scheme of arrangement involves Adani Enterprises, Adani Ports and Special Economic Zone, Adani Power, Adani Transmission and Adani Mining and their respective shareholders and creditors.
Shares of Adani Enterprises declined nearly two per cent to close at Rs 659.40 on the BSE.