JSW Energy CIC buyout deadline extended

Our Bureau Mumbai | Updated on November 16, 2017

JSW Energy on Tuesday said, the outside date for completion of the proposed acquisition of CIC Energy Corp has been extended to March 15 pursuant to the terms of the supplementary acquisition agreement.

In a statement to the stock exchanges JSW Energy said, the completion of the transaction remains subject to the satisfaction or waiver of conditions precedent to the terms of the supplementary agreement. Last year, the company agreed to take over CIC Energy Corp for Canadian $422 million (about Rs 200 crore) for its coal assets in Africa.

On the BSE, JSW Energy scrip closed 1.48 per cent up at Rs 76.60 on Tuesday.

Published on March 01, 2011

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