India’s Reliance Industries To Divest Jio’s Tower Assets For $3.5 Billion

India’s Reliance Industries Ltd RELI.NS on Monday said its unit had inked binding agreements with Brookfield Infrastructure Partners LP BIP.N for an investment of 252.15 billion rupees($3.51 billion).

Reliance Industrial Investments and Holdings Ltd will sell its telecoms arm, Jio’s tower assets to Brookfield and its partners, the company, controlled by Asia’s richest man Mukesh Ambani, said.

($1 = 71.7700 Indian rupees) – Nasdaq