Adani to buy GMR's transmission projects

GMR Energy (GEL), a subsidiary of GMR Infrastructure (GIL), has entered into a definitive agreement with Adani Transmission (ATL) wherein GEL has agreed to transfer the interest in its transmission projects — Maru Transmission Services (MTSL) and Aravali Transmission Services (ATSL) — to ATL. Currently, 74% stake in MTSL and 49% stake in ATSL will be transferred to ATL with an option to acquire the balance stakes in both the projects.

The consummation of the transaction is subject to applicable approvals. The equity consideration ascribed for the transaction.

BS