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AZB acts on $832m Tata Power buy of Jaypee’s distressed Prayagraj Power

“Tata Power-backed firm to buy Jaypee’s Prayagraj Power from lenders: The sale of Prayagraj Power to Tata Power-backed Resurgent Power marks the first such transaction in the power generation space outside the insolvency framework,” reported Mint.

“Resurgent Power acquires 75% Jaypee’s Prayagraj Power; first stressed asset to be resolved: This transaction is the result of stressed asset resolution process initiated by the lenders through a competitive bidding process, it said,” reported The Economic Times.

AZB & Partners advised Resurgent Power Ventures Pte Ltd (backed by Tata Power) led by a team of partners Darshika Kothari, Nilanjana Singh and lawyers Qais Jamal, Pankhuri Govil.

2018-11-14

Deal value: Rs 6000 crore ($832m)

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click here if you are working with a law firm that has not been credited for this deal, and we will update the report promptly.

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