December 21, 2017 / 9:21 AM / a month ago

BRIEF-Reliance Infrastructure to Sell Integrated Mumbai Power Business​ To Adani Transmission

Dec 21 (Reuters) - Reliance Infrastructure Ltd:

* SIGNS DEFINITIVE BINDING AGREEMENT WITH ADANI TRANSMISSION LTD FOR 100% SALE OF ITS INTEGRATED MUMBAI POWER BUSINESS​

* SAYS TOTAL DEAL VALUE IS 132.51 BILLION RUPEES

* SAYS TOTAL CONSIDERATION VALUE ESTIMATED AT 188 BILLION RUPEES

* PROCEEDS FROM DEAL TO BE UTILISED ENTIRELY FOR DEBT REDUCTION

* SAYS CO WILL BECOME DEBT FREE AND UP TO 30 BILLION RUPEES CASH SURPLUS WITH THIS TRANSACTION Source text: bit.ly/2Dh8885 Further company coverage:

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