Adani may buy RInfra's Mumbai power business

Firms enter exclusive talks; if deal goes through, Adani will enter distribution

Anil Ambani-led Reliance Infrastructure (RInfra) has entered into exclusive talks with Adani Transmission for selling its Mumbai power business.

“The company has entered into a period of exclusivity until January 15, 2018 in relation to discussions for the proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai city to Adani Transmission,” said Mumbai-based Reliance Infrastructure in a BSE filing.

In their respective exchange filings, both companies specified that the proposed transaction is subject to confirmatory diligence, definitive documentation, and customary approvals. If the deal materialises, Adani will be making an entry into the power