Adani Group’s Adani Transmission Ltd (ATL) has acquired Reliance Infrastructure’s integrated business of generation, transmission and retail electricity distribution in Mumbai and Maharashtra for Rs. 18,800 crore..The successful completion of the deal is expected to help Reliance Infra to reduce the debt to Rs 7,500 crore from Rs 22,000 crore reported ET..This is the largest ever debt reduction for any company in the power sector in India..Cyril Amarchand Mangaldas acted for Adani and the team was led by Managing Partner Cyril Shroff along with Partners Nivedita Rao, Ravi Kumar, Saurya Bhattacharya and Subhalaksmi Naskar. .Partner Anshuman Sakle advised on Competition Law Aspect. Infrastructure Partner Ramanuj Kumar advised on the financing aspects. Partner Aarti Joshi helped with the due diligence..J. Sagar Associates (JSA) advised Reliance Infrastructure and the team was led by Joint Managing Partner Dina Wadia along with Partner Manav Raheja and Associate Ronak Shah..Partners Amitabh Kumar and Vaibhav Choukse along with Senior Associates Unnati Agarwal and Ela Bali advised on the competition law filing and advisory for this transaction..L&L Partners (formerly Luthra & Luthra Law Offices) acted as the sole legal counsel for the consortium of lenders who funded the acquisition and refinancing of the debt of RINFRA..The Banking & Finance team of L&L Partners on the transaction was led by Partners Bikash Jhawar and Rohit Raghavan, with a significant role played by Managing Associate Satadru Goswami and Associates Arya Devi, Kavya Gupta and Sikander Wankhede..The new business of the Adani Group shall be housed in the AEML, a newly-formed entity and a subsidiary of ATL, serving over three million customers spread across 400 sq. km of Mumbai suburbs, marking its entry into the large-scale power distribution sector.
Adani Group’s Adani Transmission Ltd (ATL) has acquired Reliance Infrastructure’s integrated business of generation, transmission and retail electricity distribution in Mumbai and Maharashtra for Rs. 18,800 crore..The successful completion of the deal is expected to help Reliance Infra to reduce the debt to Rs 7,500 crore from Rs 22,000 crore reported ET..This is the largest ever debt reduction for any company in the power sector in India..Cyril Amarchand Mangaldas acted for Adani and the team was led by Managing Partner Cyril Shroff along with Partners Nivedita Rao, Ravi Kumar, Saurya Bhattacharya and Subhalaksmi Naskar. .Partner Anshuman Sakle advised on Competition Law Aspect. Infrastructure Partner Ramanuj Kumar advised on the financing aspects. Partner Aarti Joshi helped with the due diligence..J. Sagar Associates (JSA) advised Reliance Infrastructure and the team was led by Joint Managing Partner Dina Wadia along with Partner Manav Raheja and Associate Ronak Shah..Partners Amitabh Kumar and Vaibhav Choukse along with Senior Associates Unnati Agarwal and Ela Bali advised on the competition law filing and advisory for this transaction..L&L Partners (formerly Luthra & Luthra Law Offices) acted as the sole legal counsel for the consortium of lenders who funded the acquisition and refinancing of the debt of RINFRA..The Banking & Finance team of L&L Partners on the transaction was led by Partners Bikash Jhawar and Rohit Raghavan, with a significant role played by Managing Associate Satadru Goswami and Associates Arya Devi, Kavya Gupta and Sikander Wankhede..The new business of the Adani Group shall be housed in the AEML, a newly-formed entity and a subsidiary of ATL, serving over three million customers spread across 400 sq. km of Mumbai suburbs, marking its entry into the large-scale power distribution sector.