Adani In Talks To Acquire Rinfra’s Rs13,000-cr Mumbai Power Business

Adani In Talks To Acquire Rinfra’s Rs13,000-cr Mumbai Power Business

Adani Transmission, the power sector arm of Infrastructure major Adani Group, is in talks with Reliance Infrastructure for acquiring the latter’s power distribution business in Mumbai, which is estimated to be worth Rs13,000-14,000 crore.

The Anil Ambani-led Reliance Infrastructure (RInfra) said it has entered into exclusive talks with Adani Transmission for selling its Mumbai power business.

”The company has entered into a period of exclusivity until January 15, 2018 in relation to discussions for the proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai city to Adani Transmission,” said Mumbai-based Reliance Infrastructure in a BSE filing. Read More…

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