JSW Energy Limited (BSE:533148) signed a memorandum of understanding to acquire Bina Thermal Power Plant from Jaiprakash Power Ventures Limited (BSE:532627) on September 7, 2015. JSW Energy Limited signed definitive agreement to acquire Bina Thermal Power Plant from Jaiprakash Power Ventures Limited for INR 27 billion for cash on July 18, 2016. The transaction is approved Board of Directors of Jaiprakash Power Ventures Limited. The transaction is subject to approval by Jaiprakash Power Ventures shareholders, government approvals and Competition Commission of India on July 18, 2016. The Board meeting for the approval of this acquisition is to be held on July 18, 2016. The transaction is structured to be accretive to the shareholders of JSW Energy Limited immediately upon consummation. On September 16, 2016, Competition Commission approved the deal. The transaction is expected to complete by May 31, 2017. As on May 12, 2017, the transaction is expected to be completed on December 31, 2017.

Bomi Daruwala of Vaish Associates Advocates and L Viswanathan, Tushar Mavani, Ramanuj Kumar acted as legal advisors to Jaiprakash Power Ventures. Bharat Budholia of Cyril Amarchand Mangaldas acted as legal advisor to JSW Energy. Axis Capital Limited and SBI Capital Markets Limited acted as financial advisors and Lodha & Co and PricewaterhouseCoopers Private Limited acted as accountants for JSW Energy. Lahmeyer International Private Limited provided technical due diligence.

JSW Energy Limited (BSE:533148) cancelled the acquisition of Bina Thermal Power Plant from Jaiprakash Power Ventures Limited (BSE:532627) on January 1, 2018.