For Rs 1000 crore
Reliance Infrastructure has successfully completed the sale of 100% stake 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 ~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.
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