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(Reuters) – A group of Indian investors want to join the Infrastructure Investment Fund (InvIT), led by Brookfield Asset Management Inc., to buy East West Pipeline Ltd. (EWPL) for a $ 130 billion enterprise value. rupees (The Times newspaper reported Monday, citing people aware of the changing situation.
EWPL, previously known as Reliance Gas Transportation Infrastructure Ltd., is a unit of Reliance Utilities Private Limited. It carries gas from Kakinada in southeastern India to Bharuch in the west.
Investors such as ICICI Prudential Asset Management, the family office of the Poonawallas of Serum Institute and individuals like Uday Kotak – chief executive and chief executive officer of Kotak Mahindra Bank Ltd – are expected to join the consortium, the report added.
Other banks, including ICICI Bank Ltd and Bank of State Bank of Baroda Ltd., are also participating in the talks on monetization of the private pipeline, according to the report.
The pipeline is being transferred to an entity called Pipeline Infrastructure Pvt. Ltd, a unit of Reliance Industries Holding Pvt. Ltd, the report says. Reliance Industries Holdings is a holding company of developers of Reliance Industries Ltd.
Reliance Industries, Brookfield, ICICI Bank, Baroda Bank, Kotak Mahindra Bank and the Serum Institute Office did not immediately respond to Reuters' request.
Report of Tanvi Mehta in Bengaluru; Edited by Rashmi Aich
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