Vedanta Acquisition of Jaiprakash Associates
Sector: Residential • Location: India
Source: The Economic Times
Vedanta has sought the Competition Commission of India's approval to acquire 100% stake in stressed infrastructure firm Jaiprakash Associates (JAL) through the corporate insolvency resolution process. Vedanta emerged as the highest bidder with a net present deal value of Rs 12,505 crore, surpassing Adani Group's offer. The acquisition aims to resolve JAL's insolvency, with Vedanta proposing upfron
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Status
Original status | planned |
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Taiyo last update | 00-00-0000 |
Available timestamps | 00-00-0000 |
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Description
Description | Vedanta has sought the Competition Commission of India's approval to acquire 100% stake in stressed infrastructure firm Jaiprakash Associates (JAL) through the corporate insolvency resolution process. Vedanta emerged as the highest bidder with a net present deal value of Rs 12,505 crore, surpassing Adani Group's offer. The acquisition aims to resolve JAL's insolvency, with Vedanta proposing upfront and annual payments over five years, potentially totaling about Rs 17,000 crore. JAL is engaged in diverse infrastructure and industrial activities including real estate, cement, hospitality, and construction contracting. |
Original sub-sector | Obfuscated |
Original Currency | USD |
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Location
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Source reliability | High |
Data quality score | 100% |
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URL | obfuscated_data,obfuscateddata.com |
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