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Reliance Infrastructure cleared by CCI to sell Mumbai power business to Adani Transmission

( February 12, 2018, 00:00 GMT | Official Statement) -- MLEX Summary: India’s Reliance Infrastructure has received clearance from the Competition Commission of India to sell its integrated Mumbai power business, Reliance Energy, to Adani Transmission for an estimated total consideration of 188 billion rupees ($2.9 billion), the company said today in a statement. Reliance Energy is India’s largest private-sector integrated power utility, and the sale proceeds will be used in what will be the largest-ever debt reduction exercise conducted by a corporate entity in India. The transaction is expected to be completed by March 2018.Reliance Infrastructure’s statement is attached....

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