Deals
Canadian Fund Still Weighing Reliance Infra Deal After Deadline
- Initial exclusivity agreement was to run through March 31
- Billionaire Ambani seeking to pare debt through asset sales
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Public Sector Pension Investment Board, one of the largest Canadian pension funds, is still considering buying a stake in Reliance Infrastructure Ltd.’s Mumbai power business after the initial deadline for a formal agreement passed.
The Canadian fund “is still evaluating this investment opportunity,” spokeswoman Anne-Marie Durand said in an e-mailed response to Bloomberg. Reliance Infrastructure, backed by Indian billionaire Anil Ambani, signed a non-binding term sheet and entered exclusive talks with PSP through March 31 on the sale of 49 percent of its Mumbai power generation, transmission and distribution business, according to a November exchange filing.