In an every increasing interdisciplinary corporate and industrial sector the hunger to make more profit or the struggle to make ends meet in the troubling times are both handled by making deals. As the Indian firms suffer the economic slowdown there is expected to be a rise in the deals from these firms to stay financially viable or even for their survival.
The Essel Group, which needs to sell a host of assets to stave off loan defaults, is in talks with the Adani group to sell its remaining solar energy portfolio, Citing two people close to the development was reported by the Mint. Essel is rushing to complete its unfinished solar power projects of 480 megawatts (MW) to sell them to Adani Green Energy Ltd, the group’s renewable energy arm. In August, Essel Infraprojects Ltd, wholly owned by Subhash Chandra’s debt-heavy Essel group, sold its operating portfolio of 205MW to Adani Green Energy at an enterprise value of ?1,300 crores. Adani group has tacitly agreed to buy the bulk of the remaining portfolio once the plants start generating power.
This deal can prove beneficial to both the corporate sector as well as the energy sector of the nation. The energy sector benefits by getting new plants and a new company with a different approach to run and maintain them. Corporate sector benefits by not losing shares of a company as they would if the company went bankrupt or sold off its shares and assets. This deal is a win-win situation for everyone.
Tags : Essel group making, Adani Green Energy Ltd,