Rinfra, Adani May Close Reliance Energy Mumbai Sale By July


Rinfra, Adani May Close Reliance Energy Mumbai Sale By July

The Maharashtra Electricity Regulatory Commission (MERC) on Thursday completed its hearing in the proposed 100 per cent stake sale of Reliance Infrastructure Ltd (RInfra)’s integrated Mumbai power business to Adani Transmission Ltd (ATL), an official spokesperson said.

The MERC’s order in the matter is likely over the next few weeks and the two companies expect to close the transaction, estimated at Rs 18,800 crore, next month.

The RInfra has already secured the approval of Competition Commission of India and its own shareholders for the deal.

The RInfra and ATL signed a Definitive Binding Agreement for 100 per cent stake sale of the integrated business of generation, transmission and distribution of power for Mumbai last December. Read More

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