MUMBAI: Canada-based Brookfield Asset Management’s India Infrastructure Trust, an InvIT, is acquiring Reliance Industries Ltd’s (RIL’s) loss-making entity East West Pipeline for ₹13,000 crore, RIL said on Thursday.
“Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as sponsor and 90% investor, will invest ₹13,000 crore to acquire the East West Pipeline,” RIL said.
The InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited (PIPL) which currently owns and operates the East West Pipeline.
