BREAKING NEWS

Adani Transmission acquires Reliance Infra WRSSS assets for $ 150M

  • DEAL VALUES WRSSS TRANSMISSION BUSINESS AT ~Rs. 1,000 CRORE
  • DEAL VALUES WRSSS TRANSMISSION BUSINESS AT ~Rs. 1,000 CRORE
Reliance Infrastructure Limited (RInfra) today announced the successful completion of 100% stake sale in its two SPVs (Western Region System Strengthening Scheme (WRSSS) Transmission Undertakings) to Adani Transmission Limited.

Sale of WRSSS Transmission Business is complete with deal valued at ~Rs. 1,000 Crore. The entire proceeds from the stake sale shall be utilized for debt reduction.

Earlier in October 2016, RInfra had signed Binding Term Sheet while in December 2016, it had signed Share Purchase Agreement with Adani Transmission Limited for 100% sale of its WRSSS transmission assets. The deal has now been completed with transfer of shares and receipt of sale consideration.

SBI Capital Markets Limited is acting as the financial advisors to RInfra for this transaction.

Reliance Infrastructure Limited
Reliance Infrastructure Ltd (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

RInfra is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading. RInfra, through its SPVs, has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; eleven road projects with total length of about 1,000 kms on build, operate and transfer (BOT) basis. RInfra also provides E

The Company has entered into the defence sector. The Maharashtra Government has allotted land at Mihan near Nagpur for the development of India's first smart city for the defence sector known as Dhirubhai Ambani Aerospace Park (DAAP). RInfra associate Reliance Naval & Engineering Ltd, houses India’s largest dry dock facility to build warships and other naval vessels.

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