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Adani Energy on Thursday stated it has offered a 100% stake in Help Properties Pvt. to AdaniConnex Pvt. at an enterprise worth of Rs 1,556.5 crore.

“Events to the proposed transaction (for which a binding memorandum of understanding had been signed earlier) have executed a Share Buy Settlement and concluded the transaction,” a BSE submitting stated.

Earlier in November final 12 months, Adani Energy had entered right into a memorandum of understanding to promote its 100% fairness stake in its wholly-owned subsidiary Help Properties Pvt. to AdaniConnex Pvt.

The enterprise valuation (of a 100% stake in Help Properties) was estimated at Rs 1,556.5 crore, topic to changes on the deadline.

The ACX is a 50:50 three way partnership between Adani Enterprises Ltd., which is a promoter group firm, and EdgeConneX.

It’s engaged within the enterprise of growing world-class knowledge centres and offering co-location internet hosting and ancillary providers.

Disclaimer: Adani Enterprises is within the strategy of buying a 49% stake in Quintillion Enterprise Media Ltd., the proprietor of BQ Prime.

. Learn extra on Enterprise Information by BloombergQuint.

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