Reliance Industrial Investments and Holdings Limited (RIIHL), a subsidiary of India's Reliance Industries, has signed an agreement with BIF IV Jarvis India, an affiliate of Brookfield Asset Management for an investment by Brookfield (along with co-investors) of INR 252.15 billion in the units proposed to be issued by the Tower Infrastructure Trust. Brookfield's investment in the towers infrastructure used by mobile operator Reliance Jio remains subject to the receipt of government and regulatory approvals.
RIIHL is the sponsor of the Tower Infrastructure Trust and the Trust holds 51 percent of the equity share capital of Reliance Jio lnfratel, the company operating the infrastructure. Reliance Jio lnfratel plans to use the proceeds from the investment by Brookfield to repay existing debt and acquire the balance 49 percent of Reliance Jio lnfratel, currently held by Reliance Industries.
Infrastructure company Brookfield Infrastructure Partners owns and operates assets in the utilities, transport, energy and data infrastructure sectors across North and South America, Asia Pacific and Europe. The company reports it is focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges.
