CLP Power India Private Limited entered into a share purchase and shareholders agreement to acquire Alipurduar Transmission Limited from Kalpataru Power Transmission Limited (BSE:522287) on July 3, 2019. In related transaction, CLP Power India Private Limited agreed to acquire 100% stake in Kalpataru Satpura Transco and 74% stake in Kohima Mariani Transmission. The companies will be sold for a combined enterprise value of INR 32.8 billion, which is subject to customary adjustments on the respective closing dates. For the financial year 2018-19, Alipurduar Transmission had revenue of INR 52 million and net worth of INR 1.9 billion. The transaction is subject to requisite approvals and compliances. Proceeds of the transaction to be used for debt reduction and capex for future growth. Ernst & Young Private Limited, Investment Banking Arm acted as financial advisor for Kalpataru Power Transmission Limited. Shivanshu Thaplyal of Khaitan & Co. acted as legal advisor for Kalpataru Power Transmission Limited. Deepto Roy of Shardul Amarchand Mangaldas & Co acted as legal advisors to CLP Power India Private Limited. CLP Power India Private Limited cancelled the acquisition of Alipurduar Transmission Limited from Kalpataru Power Transmission Limited (BSE:522287) on May 1, 2020. The acquisition was cancelled due to non-fulfillment of the conditions precedent.