A set of marquee asset management companies, family offices, banks and insurers are said to be interested in participating in the Brookfield-led infrastructure investment trust (InvIT) that is buying the lossmaking East West Pipeline Ltd (EWPL), earlier known as Reliance Gas Transportation Infrastructure Ltd, for an enterprise valuation of Rs 13,000 crore ($2 billion). ICICI Prudential Asset Management Company and the family office of the Poonawallas of Serum Institute are likely to join the Canadian investor in India Infrastructure Trust, the vehicle that is being created for the acquisition to take over the 1,400 km common carrier pipeline from Kakinada on the east coast to Bharuch in Gujarat, said people aware of the development.
— The Economic Times

AZB & Partners advised Reliance Industries Limited, Reliance Industries Holding Private Limited, Reliance Industrial Investments and Holdings Limited, East West Pipeline Limited, Pipeline Infrastructure Private Limited, and Reliance Gas Pipelines Limited. The AZB team was led by partners Ashwath Rau and Rahul Rai, and associates Pranav Atit, John Adwet Raghav, Gaurav Bansal, Siddhant Chandalia, Rahul Shukla and Nripi Jolly.

2019-02-11

Deal value: $2440m / INR 170000m

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.