Reliance Infrastructure gets MERC nod for sale of Mumbai power business to Adani

Transaction expected to close in July 2018

Maharashtra Electricity Regulatory Commission (MERC) has given its approval to the proposed 100% stake sale of Reliance Infrastructure's integrated Mumbai power business to Adani Transmission. Following the commission's nod, the transaction is expected to be closed in July 2018. MERC had concluded its hearing into the matter and reserved its order on 14 June 2018.

Reliance Infrastructure has already received the approval of Competition Commission of India (CCI) and its share-holders for the deal.

Reliance Infrastructure and ATL had signed Definitive Binding Agreement for 100% stake sale of the integrated business of generation, transmission and distribution of power for Mumbai in December 2017. The total consideration value of the deal is estimated at Rs. 18,800 crore.

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