Canadian investment firm Brookfield Asset Management has agreed to invest Rs 25,215 crore in a trust that controls Reliance Industries' telecom tower infrastructure assets, the companies said Friday. Earlier this year, Reliance had demerged the fibre and tower businesses into Jio Digital Fibre Pvt Ltd and Reliance Jio Infratel Pvt Ltd, respectively. RIL's telecom arm, Reliance Jio Infocomm Ltd previously held the tower business. Brookfield, along with co-investors, will invest in the units proposed to be issued by Tower Infrastructure Trust sponsored by RIL's wholly-owned unit Reliance Industrial Investments and Holdings Ltd (RIIHL). Post the transaction, Brookfield will completely own the Tower Infrastructure Trust, though RIIHL will be a sponsor.

Source: dna July 19, 2019 15:56 UTC