Adani buys RInfra’s power transmission business

RInfra has signed a binding agreement with Adani Transmission Limited (ATL) for the sale of its power transmission assets to the latter. The company will utilise the proceeds for reducing its debt burden. SBI Capital Markets Limited was the financial adviser for the transaction. RInfra holds a 100 per cent stake in two Western Region System Strengthening Schemes B and C projects spanning Maharashtra, Gujarat, Madhya Pradesh and Karnataka and a 74 per cent stake in Parbati Koldam Transmission Company Limited located in Himachal Pradesh and Punjab.