Essar Power Transmission likely to be sold to Adani Group
In an attempt to bring down its debt, the Essar Group is negotiating with Adani group to sell Essar Power Transmission. The deal is expected to be valued at around Rs 1,800 crore. Essar Group´s debt is close to over Rs 80,000 crore. The group has put its power transmission business on the block. They are currently in talks with Adani Group to sell 100 per cent stake in Essar Power Transmission business, which is a wholly-owned subsidiary of Essar Power.