Adani To Buy Anil Ambani-Led Rinfra’s Mumbai Power Biz For Rs 13,000 Crore

Adani To Buy Anil Ambani-Led Rinfra’s Mumbai Power Biz For Rs 13,000 Crore

Adani Transmission Limited (ATL) will buy Anil Ambani-led Reliance Infrastructure’s (RInfra’s) Mumbai power business – Reliance Energy for around Rs 13,000 crore, reports, DNA Money, quoting sources.

As per DNA Money report, the deal valuation is less than what Greenko had offered a few months ago.

The Hyderabad-headquartered Greenko, backed by Singapore’s GIC and Abu Dhabi Investment Authority, had sought to acquire Anil Ambani-led Reliance Infrastructure’s flagship Mumbai electricity business for an enterprise value of Rs 13,000-14,000 crore, which lapsed in September.

Last month Reliance Infrastructure had entered into a period of exclusivity with Adani Transmission for proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai. Read More…

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