Srei completes 18.5 per cent stake sale in Viom Networks for Rs 29.31 billion

Srei Infrastructure Finance Limited has announced that it has received Rs 29.31 billion after offloading its 18.5 per cent stake in Viom Networks to American Tower Corporation (ATC). This comes after the CCEA approved ATC’s proposed acquisition of 51 per cent stake in Viom Networks. The deal, valued at Rs 76.35 billion, was announced in October 2015. Srei is likely to use the proceeds to reduce its debt and interest cost.

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