Expand+
SanDisk

Reliance Jio to Acquire Wireless Infrastructure Assets from Reliance Communications

By: DT NEWS NETWORK
December, 29, 2017

Reliance Jio Infocomm Limited (“RJIL”), a subsidiary of Reliance Industries Limited (“RIL”), announced signing of definitive agreement for the acquisition of specified assets of Reliance Communications Limited (“RCOM”) and its affiliates.

An asset monetization process for RCOM assets was mandated by the lenders of RCOM, who appointed SBI Capital Markets Limited to run the process. The process is supervised by an independent group of distinguished industry experts. RJIL emerged as the successful bidder in the two-stage bidding process.

Consequent to the agreement, RJIL or its nominees will acquire assets under four categories – Towers, Optic Fiber Cable Network (“OFC”), Spectrum and Media Convergence Nodes (“MCN”) from RCOM and its affiliates. These assets are strategic in nature and are expected to contribute significantly to the large scale roll-out of wireless and Fiber to Home and Enterprise services by RJIL.

The acquisition is subject to receipt of requisite approvals from Governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent. The consideration is payable at completion and is subject to adjustments as specified in the agreement.

The parties are bound by confidentiality obligations and will make further disclosures at the appropriate time.

RJIL is being advised by Goldman Sachs, Citigroup Global Markets, JM Financial Private Limited, Davis Polk & Wardwell LLP, Cyril Amarchand Mangaldas, Khaitan & Co and Ernst & Young on this transaction.

 

Share Your Views - post Your Comments Below

DT encourage Readers to go for verification process for security reasons.

Max Characters 1000.

We request you not to post comments that are obscene, libellous, slanderous or in flammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. Any offensive comments will not be published and will be forwarded to cyber crime department.

Posted Comments
There are no comments yet.
Microtek