RIL says Brookfield Infrastructure’s Rs 25,215 investment in Tower Infrastructure Trust has been completed

Reliance Industries (RIL) on September 1, informed the BSE that the Rs 25,215 crore investment by Brookfield Infrastructure and its institutional partners in Tower Infrastructure Trust has been completed.

RIL informed the exchanges, under Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015.

“Further to the earlier disclosures on the subject, the transaction has been completed after obtaining all regulatory approvals, fulfilling other completion requirements, and further to subscription of units of the Tower Infrastructure Trust by Brookfield Infrastructure Partners, alongside its institutional partners, for an investment of Rs. 25,215 crore,” the statement read.

Earlier in December 2019, RIL said it will divest Jio's telecom tower assets to Canada's Brookfield Infrastructure Partners LP for Rs 25,215 crore.

RIL's unit Reliance Industrial Investments and Holdings (RIIHL) inked binding agreements with Brookfield Infrastructure Partners LP and its partners for the tower business deal, where Brookfield will buyout 100 per cent equity of the operating tower company.

This is the single largest foreign investment in an Indian infrastructure vehicle. Proceeds from the investment by Brookfield and long-term loans will be used to repay existing financial liabilities of Reliance Jio Infratel (RJIPL), including loans extended by RIL.

Disclaimer: "Reliance Industries (RIL), which also controls Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments which publishes Moneycontrol."