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Jaypee-RPower exclusivity pact likely to be extended

The exclusivity period of the pact for Reliance Power's proposed acquisition of Jaiprakash Associates' hydro power portfolio in a Rs 12,000 crore deal is likely to be extended by 60 days.

In one of the biggest deals in the power space, Anil Ambani Group firm Reliance Power in July announced that it had signed an initial agreement to acquire all the three hydroelectric power plants of Jaiprakash Associates Ltd. The deal would be worth about Rs 12,000 crore. Investment banking sources said the exclusivity period of the agreed Memorandum of Understanding (MoU) for the proposed deal is likely to be extended by 60 days.

The MoU between RPower and Jaypee Group was signed on 27 July and the exclusivity period was to end on 25 September.

When contacted, an RPower spokesperson did not comment. Queries sent to Jaypee Group spokesperson remained unanswered.
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