Reliance Industries sells Marcellus shale assets for $126 mln

Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]

Reliance Industries sells Marcellus shale assets for $126 mln

Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]

Axis Bank confirms exiting POS maker Mswipe

Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies. In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share. Mswipe is one of the new generation, low-cost swipe-machine companies, and offers cheaper rates to merchants. Instead […]

Reliance Communications sells its towers to Brookfield for $1.6 bln

Reliance Communications Ltd announced the signing of binding agreements with Brookfield Infrastructure for the sale of nationwide tower assets to Brookfield Infrastructure Partners LP and its institutional partners. RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion). RCOM will also receive Class B non-voting shares in the new Tower company, […]

Spectrum Trading norms to lead to exits — Airtel, Idea, Vodafone, Reliance Jio seen winning

Spectrum trading is likely to lead to consolidation in the Indian telecom industry and four telecom operators — Bharti Airtel, Idea Cellular, Vodafone and Reliance Jio — are likely to emerge the winners — analysts said. “The industry could see emergence of four pan-India players (Bharti Airtel Limited, Vodafone India Limited, Idea Cellular Ltd and […]

Godrej Properties sells Puravankara Bangalore plot to Shubh Properties

Godrej Properties Ltd said it has transferred majority ownership in a special purpose unit developing an 18-acre plot in Kanakapura to Shubh Properties Cooperatief U.A. — a joint venture between APG Groep N.V., Sparinvest Property Investors and Godrej Properties Ltd.. The plot was acquired by Godrej Properties (in association with Dutch pension services provider APG) […]

Bharti Airtel to sell 1,100 towers in Africa to IHS

Bharti Airtel said it will sell over 1100 telecoms towers across 2 countries in Africa to IHS Holding Limited, the largest mobile telecommunications infrastructure provider in Africa. The sale in Zambia and Rwanda will be followed by a 10-year leaseback contract. “The agreements will allow Airtel to focus on its core business and customers, enable […]