Mukesh Ambani to sell East West Pipeline to Brookfield for Rs 13,000 cr

Canadian investor Brookeld-led India  on Thursday led a preliminary placement memorandum, through which InvIT (set up by Brookeld as sponsor and 90 per cent investor) will invest Rs 13,000 crore to acquire EWPL.

Reliance Industries Ltd (RIL) will get the right to acquire equity shares of Pipeline Infrastructure Private Ltd (PIPL), held by InvIT at an equity value of Rs 50 crore, at the end of 20 years.

Based on the understanding, the existing pipeline usage agreement has been reworked, giving a signicant participation in net earnings of PIPL to RIL.

Brookeld is set to acquire East West Pipeline (EWPL), earlier known as Reliance Gas Transportation Infrastructure, from Mukesh Ambani for Rs 13,000 crore.

 

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