Adani Power on Thursday said it has sold 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Limited (ACX) for an enterprise value of Rs 1,556.5 crore.
“The parties to the proposed transaction (for which a binding memorandum of understanding was earlier signed) have executed a share purchase agreement and completed the transaction,” the BSE filing said.
Adani Power signed a Memorandum of Understanding (MoU) to AdaniNex Private Limited (ACX) to sell 100 percent equity shares of its wholly-owned subsidiary Support Properties Pvt Ltd (SPPL) in early November last year.
