“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
2018-11-14
Deal value: Rs 6000 crore ($832m)
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