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Published: Dec 15, 2022
Updated: Dec 15, 2022
Government-owned PFC won the mandate to acquire Lanco Amarkantak after both Adani and Ambani (Reliance Industries) made a bid for the bankrupt company.
Reliance does not own any coal-based electricity generation plant though the RIL promoter entities own coal-based power plants in Jamnagar and Hazira.
The question is why PFC, which is a lender to power projects, came into the picture to acquire a company. Earlier, PFC and REC had acquired a significant stake in Suzlon Energy.
Clearly, the government-owned institution is becoming aggressive in acquiring companies, especially where it has a significant debt exposure.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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