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The Maharashtra Electricity Regulatory Commission (MERC) has given approval to Reliance Infrastructure’s (RInfra) 100% stake sale in its integrated Mumbai power business, to Adani Transmission Ltd (ATL), for approx Rs.18,800 crore.
In a BSE filing the company stated,”Following the commission’s nod, the transaction is expected to be closed in July 2018. The MERC had concluded its hearing into the matter and reserved its order on June 14, 2018.”
Moreover the company stated that, it has already received approval of the Competition Commission of India (CCI) and also from the shareholders for the deal.
