Reliance Infra's Rs 188 Bn Deal with Adani Approved by CCI

By Olga
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Reliance Infrastructure (RInfra) today said that the Competition Commission of India (CCI) has approved the sale of its Mumbai power business to Adani Transmission in a Rs 188 billion deal.

    Reliance Infra's Rs 188 Bn Deal with Adani Approved by CCI

    Also Read: What is Competition Commission of India?

    In a statement, RInfra said that it had signed a definitive binding agreement with Adani Transmission in December 2017 to sell 100% of its stake in its integrated business of generation, transmission, and distribution of power for Mumbai and the total consideration value is estimated to be Rs 188 billion. The transaction is expected to be complete by March.

    The proceeds of the transaction will be used entirely by RInfra to reduce its debt making it the biggest every debt reducing exercise by a corporate.

    RInfra's power business which is also known as Reliance Energy is India's largest private sector integrated power utility that distributes electricity to 3 million residential, industrial and commercial places in the suburbs of Mumbai covering 400 sq km.

    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more