Reliance Infrastructure (RInfra) has successfully completed 100% stake sale in its two SPVs (Western Region System Strengthening Scheme (WRSSS) Transmission Undertakings) to Adani Transmission. Sale of WRSSS Transmission Business is complete with deal valued at around Rs 1,000 crore. The entire proceeds from the stake sale shall be utilized for debt reduction.
Earlier in October 2016, RInfra had signed Binding Term Sheet while in December 2016, it had signed Share Purchase Agreement with Adani Transmission for 100% sale of its WRSSS transmission assets. The deal has now been completed with transfer of shares and receipt of sale consideration.
Reliance Infrastructure (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
