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BRIEF-Reliance Infra signs binding term sheet with Adani Transmission for sale of transmission assets
October 5, 2016 / 8:36 AM / a year ago

BRIEF-Reliance Infra signs binding term sheet with Adani Transmission for sale of transmission assets

Oct 5 (Reuters) - Reliance Infrastructure Ltd:

* Says deal EPS accretive for shareholders

* Entire proceeds to be utilised for debt reduction

* Monetisation of cement business has been completed and monetisation of roads & Mumbai power businesses are in advanced stage

* Signs binding term sheet with adani transmission for 100% sale of transmission assets

* Asset monetisation of roads and Mumbai power business on track

* WRSSS B & C and PKTCL projects part of divestment deal

* Transaction in line with the strategic plans to monetise non-core business

* SBI capital markets limited is acting as the financial advisors to rinfra for this transaction.

* Reliance Infrastructure Limited signs binding term sheet with Adani Transmission for 100% sale of transmission assets Source text: bit.ly/2duwYG6 Further company coverage: (Bengaluru newsroom)

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