Brookfield on Thursday announced it is buying the loss-making East West Pipeline Ltd (EWPL), earlier known as Reliance Gas Transportation Infrastructure Ltd, for an enterprise valuation of Rs 13,000 crore ($2 billion) from Mukesh Ambani, chairman of Reliance IndustriesNSE 0.58 %.
This will be the first time a private pipeline is India is being monetised. It’s also the first time Reliance, India’s largest private sector company. Brookfield is also buying Reliance Jio’s telecom tower assets in a similarly structured transaction that could value the portfolio at $7-8 billion, said sources aware of the developments.
