NTPC to acquire North Eastern Electric Power Corporation for Rs 4000 cr

NTPC has on 25 March 2020 executed a Share Purchase Agreement with the President of India for acquisition of legal and beneficial ownership of 3,60,98,09,800 equity shares held by the President of India in North Eastern Electric Power Corporation (NEEPCO) and the acquisition of beneficial ownership in 600 equity shares held by the nominees of the President of India in NEEPCO (collectively representing 100% of the total paid up share capital of NEEPCO) for an aggregate consideration of Rs 4000 crore. The acquisition is subject to satisfaction of customary conditions precedent.

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