Skip to main content

Reliance Infra to sell Mumbai power business to Adani Transmission for 18,800 crore

Maharashtra Electricity Regulatory Commission (MERC) has recently given its approval to the proposed 100% stake sale of Reliance Infrastructure Ltd.’s integrated Mumbai power business to Adani Transmission Ltd. Following the commission’s nod, it is expected that the transaction will be closed in July 2018. MERC had concluded its hearing into the matter and reserved its order on June 14, 2018. The total consideration value of the deal is estimated at Rs. 18,800 crore.

This is the largest ever debt reducing exercise by any Corporate

Reliance Infrastructure Ltd. has already received the approval of Competition Commission of India (CCI) and its share-holders for the deal.

Related Posts

Reliance Infrastructure Ltd. and ATL had signed Definitive Binding Agreement for 100% stake sale of the integrated business of generation, transmission and distribution of power for Mumbai in December 2017.

Reliance Infrastructure Ltd. will utilize the proceeds of this transformative transaction entirely to reduce its debt, becoming debt free and up to Rs. 3,000 crore cash surplus. This is the largest ever debt reducing exercise by any Corporate. This monetization is a major step in Reliance Infrastructure Ltd. deleveraging strategy for future growth.

Reliance Infrastructure Ltd. Mumbai Power business (known as Reliance Energy) is India’s largest private sector integrated power utility distributing power to nearly 3 million residential, industrial and commercial consumers in the suburbs of Mumbai, covering an area of 400 sq km. It caters to a peak demand of over 1,800 MW, with annual revenues of Rs. 7,500 crore with stable cash flows.

Going forward, Reliance Infrastructure Ltd. will focus on upcoming opportunities in asset light EPC and Defence businesses.

Source: RInfra Media Release

 

The post Reliance Infra to sell Mumbai power business to Adani Transmission for 18,800 crore appeared first on ConstructionPlacements.



from ConstructionPlacements https://ift.tt/2Nb4iCj
via Handy Rep Ai
Labels:

Comments

Post a Comment

Popular posts from this blog

List of Best Construction Companies in Bengaluru

Bangalore city which is now renamed as Bengaluru city is one of the biggest IT hubs in India. Bengaluru city has attracted many top construction companies in India to construct huge IT parks across the Bengaluru city. We have compiled a list of best construction companies in Bengaluru so that job seekers who are looking for civil engineering jobs can directly visit the job page of this top construction companies in Bengaluru and apply to appropriate jobs. Scope of top construction companies in Bengaluru Apart from building big IT parks, these leading construction companies in Bengaluru are also involved in construction of residential apartments in Bengaluru area, flats in Bengaluru city, big retail outlets in Bengaluru, hotels in Bengaluru, malls in Bengaluru, commercial spaces in Bengaluru etc. That is why in addition to big construction companies in Bengaluru, this city has also attracted top Architecture companies in India, best construction contractors in India, top scaffoldin...
19 comments
Read more

Raleigh N.C. 540 outer loop faces environmental legal fight

The map above shows the 540 extension’s general location. Credit: NCDOT Environmental groups have filed a petition challenging the planned path of a future outer loop around Raleigh, North Carolina, due to concerns about the effect on nearby waterways that are home to endangered mussels. The $2.2 billion toll highway, an extension of N.C. 540, would complete the southern portion of an expressway outer loop. The construction contract for the first phase was awarded in December , and the N.C. Division of Water Quality recently issued an environmental permit for the project. The Southern Environmental Law Center , along with other environmental groups, is petitioning for an administrative hearing to challenge the environmental permit. The SELC says the proposed highway would “tear through 57,000 linear feet of streams and 70 acres of wetlands.” The groups are also concerned about increased stormwater runoff from the additional pavement from the highway, as well as more greenhouse em...
Post a Comment
Read more

Walk-In Interview for Overseas on 2nd May 2018 | Travel Point HR Solutions India | 5 – 25 yrs | Chennai

Walk-In Interview on 2nd May 2018 at Chennai for Overseas Location Saudi Arabia  Candidates should be B.E/ B.Tech / Degree with Min 5 yrs of Exp Candidates from sea water Destination and power Production Walk-In Interview on Wednesday 2nd May 2018 Venue: Travel Point HR Solutions India APJ Buinesss center, 12 Haddows Road, Nungambakkam, Chennai Tamil Nadu – 600006 Contact : MS : Waseema – 9704675049 / 040-33151524                  Mr. Samee – 8886644854 / 040- 33151523 Email Address: e ngineers@travelpointhr.com Electrical Engineer 36 Openings Implementation of policies and procedure Supervising the working staff and updating the periodic maintenance schedule with the concerned parties as their polices following the programs and the working table of preventing maintenance Achieving and following repairing works and the daily maintenance to secure that they matching the required quality according the stander maint...
Post a Comment
Read more