• Friday, August 19, 2022

Business

India’s Adani Transmission Acquires Reliance Infrastructure’s Mumbai Power Business

India’s Adani Transmission Acquires Reliance Infrastructure’s Integrated Mumbai Power Distribution Business.

By: Radhakrishna N S

India’s Reliance Infrastructure Limited on Wednesday (29) has announced the successful completion of the sale of its 100 per cent shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission Ltd. The deal was announced in December 2017 with the signing of a definitive binding agreement between Reliance Infrastructure Ltd. and Adani Transmission Ltd., and has now been completed with the transfer of shares and receipt of sale consideration. “The total transaction value is £2.06 billion. Reliance Infrastructure has reduced debt liabilities by £1.51 bn from the deal proceeds. Regulatory assets under approval of £546.58 million will flow entirely to…

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