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MERC sells Reliance's energy business to Adani Group

 Last Update: 2022-12-27
 Source: Internet
 Author: User

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electric power generation

energy abbreviation

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Merc reportedly sold the energy business of Reliance Energy (RInfra) to Adani Group
.

The deal is expected to close in July following MERC approval, announced after MERC concluded hearings on the matter and retained its order on June 14
, according to officials.

It is understood that RInfra has been approved
by the Competition Commission of India and its shareholders.

In December 2017, RInfra signed a final binding agreement with ATL to sell a 100% stake in
Mumbai's integrated power generation, transmission and distribution business.

RInfra will fully leverage the proceeds of this transformative transaction to reduce debt, forgive debt and have a cash surplus of up to INR 30 billion, the largest debt reduction activity
ever undertaken by any Indian company.

:/, please indicate the source for reprinting)

Merc reportedly sold the energy business of Reliance Energy (RInfra) to Adani Group
.

energy

The deal is expected to close in July following MERC approval, announced after MERC concluded hearings on the matter and retained its order on June 14
, according to officials.

It is understood that RInfra has been approved
by the Competition Commission of India and its shareholders.

In December 2017, RInfra signed a final binding agreement with ATL to sell a 100% stake in
Mumbai's integrated power generation, transmission and distribution business.

:/, please indicate the source for reprinting)

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