Jindal Power has agreed to acquire Hyderabad-based Kineta Power, which is developing a 3 x 660-MW super critical thermal power plant in Nellore district in Andhra Pradesh. Jindal is to purchase 100% of Kineta’s issued, subscribed and paid-up share capital in tranches from Kineta’s existing shareholders, Kineta Group and Navayuga Engineering Company.
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A team from Amarchand Mangaldas in New Delhi advised Jindal Power on the deal, conducting legal due diligence on Kineta, preparing, negotiating and finalizing the transaction documents and assisting in preparations for closing the transaction.
The team was led by partner Amit Kumar with assistance from principal associates Varun Sehgal, Sunando Mukherjee and senior associate Ananda Malhotra.
Kineta was advised by its in-house legal team.
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