GMR sells transmission projects to Adani – Feedback

Adani Transmission, the country’s largest private power transmitter, will buy into two transmission projects of the GMR group. This comes almost two months after a Malaysian power utility agreed to buy 30 per cent in 10 power generation assets of the debt-ridden GMR Energy Ltd (GEL), a subsidiary of GMR Infrastructure Ltd (GIL), for $300 million.

Under a definitive agreement signed with GEL, Adani Transmission Ltd (ATL) will pick up stakes in Maru Transmission Services Ltd (MTSL) and Aravali Transmission Services Ltd (ATSL). The deal will transfer 74 per cent stake in MTSL and 49 per cent in ATSL to ATL, with an option to acquire the balance stakes in both projects.

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