Adani firm close to finalising Reliance Infrastructure power acquisition

The transaction would strengthen Adani Transmission's footprint in the power transmission sector and mark its foray into the distribution space, the Adani group firm said

Adani Transmission is likely to clinch a deal of Rs 13,000-14,000 crore with Reliance Infrastructure (RInfra) to acquire the latter’s Mumbai power business much before the January 2018 deadline to mark its foray into the power distribution business.

“Adani Transmission and Reliance Infrastructure have almost finalised the deal and the negotiations would not drag till January 15, 2018, deadline for an enterprise value of Rs 13,000 crore to Rs 14,000 crore,” an industry source said.

The transaction would strengthen Adani Transmission’s footprint in the power transmission sector and mark its foray into the distribution space, the Adani group firm had said earlier