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NTPC inks pact to acquire 3 projects in Bihar

Press Trust of India  |  New Delhi 

today inked a pact with and its to acquire their entire stake in two joint ventures at and Kanti, and to buy thermal plant.

The transactions would enable to have 100 per cent stake in and projects, which is part the company's broad objective of acquiring state-owned generation units across the country.

The company has not disclosed consideration for these acquisitions under the MoU.

The MoU envisages transfer of Thermal Power Station and transfer of the BSPGCL equity (27.36 per cent) in (KBUNL) and (50 per cent equity) in Power Generating Company, to

The (NPGC) is a 50:50 JV of NTPC and BSPGCL

KBUNL is a subsidiary of NTPC in JV with BSPGCL. Currently NTPC and BSPGCL own 72.64 per cent and 27.36 per cent equity holding in KBUNL, respectively.

Post transaction, the plant will become part of NTPC portfolio and KBUNL and NPGC will become wholly-owned subsidiaries of NTPC, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 16:55 IST