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Construction : Power Update | December 2015 | Source : CW-India

Reliance Infrastructure to sell stake

Reliance Infrastructure has signed a pact to sell a 49 per cent stake in its Mumbai electricity business to the Public Sector Pension Investment Board (PSP Investments) of Canada. The deal pegs the enterprise value of the division at Rs 15,000 crore. The Canadian fund will pay around Rs 3,500 crore for the stake. The Mumbai circle licence, along with the generation, transmission and distribution asset, will be transferred to a subsidiary, which will then offload the stake. Around Rs 8,000 crore of debt will also be transferred to the subsidiary.

Contact: Reliance Infrastructure.
Tel: 022-3009 8181.

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