Business conglomerate Adani group has won a bid to acquire Aditya Estates Pvt Ltd, which holds a posh 3.4 acre residential property near Mandi House in the heart of the national capital, through an insolvency process for a total deal value of ?400 crore.

The Delhi-based Principal bench of the National Company Law Tribunal (NCLT) has approved the resolution plan of Adani Properties to acquire Aditya Estates for ?265 crore. Another ?135 crore would go towards meeting the statutory charges, taking the total deal value to ?400 crore.

The Committee of Creditors (CoC) of Aditya Estates led by ICICI Bank PLC had already approved by 93.01 per cent vote share, Adani’s ?400 crore offer, which includes an upfront payment of ?265 crore.

https://www.livemint.com/companies/news/adani-s-rs-400-crore-bid-for-posh-aditya-estates-in-delhi-gets-nclt-approval-11582454433751.html

0 CommentsClose Comments

Leave a comment