Crompton Greaves updates on sale of APIL's Korba West Power Company to Adani Power

Both companies sign binding share purchase agreement

Crompton Greaves announced that Avantha Power & Infrastructure (APIL) on 04 March 2015 has notified the signing of a binding Share Purchase Agreement with Adani Power for 100 per cent sale of APIL's Korba West Power Company (KWPCL).

KWPCL, a SPV of APIL, has a commissioned coal based thermal power plant of 600 MW and is valued in excess of Rs. 4200 crore.

CG holds an equity investment of 23.14% in APIL.

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