NE BUSINESS BUREAU
AHMEDABAD, MARCH 27
RBSA Advisors on Friday announced the successful completion of two deals worth Rs 6,300 crore. RBSA acted as the exclusive Transaction Advisor to the Department of Disinvestment and Public Asset Management (DIPAM), Government of India, for the two deals – divestment of 100% in NEEPCO and 66.67% in KPL (erstwhile Ennore Port).
“Both deals were at an advanced stage and were concluded despite the nationwide lockdown – reflecting the Government’s resolve to keep business continued despite the challenges. While NTPC’s acquisition of NEEPCO will provide them with ready access to the North Eastern Region and also add renewable power assets; ChPT will immensely benefit from the complete control over KPL in terms of capacity and control” said Ajay Malik, MD & Head, Investment Banking, RBSA Advisors
The Centre divested its stake in NEEPCO to Rs 4,000 crore to National Thermal Power Corporation Limited (NTPC) and its stake in KPL to Chennai Port Trust (ChPT) for Rs 2,383 crore.
“It took four months for both the deals and the same wouldn’t have been possible without the timely support of all parties involved in the transaction. These two transactions will bolster the performance of these companies and ameliorate operational synergies, providing a distinct competitive advantage to companies in each of the transactions”, said Ankur Wahal, Director, Investment Banking, RBSA Advisors.
