Adani monetises power asset
Nearly 16 months after it acquired the business from Anil Ambani, the Adani group on Wednesday has cashed in on part of its holding in Adani Electricity Mumbai Ltd (AEML).
Qatar Investment Authority (QIA) will be acquiring a 25.1 per cent stake in AEML, which distributes power in Mumbai. The transaction also includes a “subordinate debt investment” by QIA in AEML.
A statement from the Adani group said the total QIA investment in AEPL will be Rs 3,200 crore.
The deal values AEPL at almost Rs 12,750 crore. In August last year, the Adani group and Reliance Infrastructure had completed a Rs 18,800-crore transaction under which the Ambani group firm sold its energy business in the city that included generation, distribution and transmission to Adani Transmission Ltd (ATL).
