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Essel Infra sells two transmission assets to Edelweiss unit, says report
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Essel Infra sells two transmission assets to Edelweiss unit, says report
Jun 6, 2019 12:03 AM

Essel Group has sold two transmission assets - Darbhanga-Motihari Transmission Ltd and NRSS XXXI (B) Transmission Ltd - owned by Essel Infraprojects to a fund managed by Edelweiss, Mint reported.

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The deal, finalised in October 2018, will see the two assets being sold to Sekura Energy Ltd, a company owned by Edelweiss Infrastructure Yield Plus fund, the report said citing two people aware of the development.

The agreement also gave Edelweiss the right to purchase two other transmission assets - Warora-Kurnool Transmission Ltd and NRSS XXXVI Transmission Ltd, the report said.

Mint could not confirm the transaction value, however, it cited another daily which had mentioned that the enterprise value of the four transmission assets was worth Rs 6,000 crore.

The transmission assets sale are two of many asset sales that the Subhash Chandra-led Essel Group is undertaking to meet its obligations, the report said.

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