MERC approves sale of RInfra’s Mumbai power business to Adani Transmission

The Maharashtra Electricity Regulatory Commission has approved the 100 per cent stake sale of Reliance Infrastructure Limited’s (RInfra) integrated Mumbai power business to ATL. The total consideration of the deal is estimated at Rs 188 billion and the proceeds from the transaction will be utilised by RInfra to reduce its debt. With the commission’s approval, the transaction is expected to be closed in July 2018.