JSW Energy gains 2% amid talks with GMR Energy for acquisition of its arm

Shares of JSW Energy gained 2 percent intraday on October 7 as the company entered into exclusive talks with GMR Energy for the acquisition of its subsidiary.

The stock was quoting at Rs 60.00, up Rs 0.65 or 1.10 percent, on the BSE at 1415 hours IST.

The power company informed exchanges that it had entered into exclusive discussions with GMR Energy for a potential acquisition of its subsidiary, GMR Kamalanga Energy Limited.

GMR Kamalanga owns and operates a 1,050 MW thermal power plant in Odisha.

“Both Parties intend to conclude these discussions in an expeditious manner,” JSW Energy said in its filing.

Source : http://tiny.cc/8k52dz

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