Reliance Infrastructure sells Santacruz centre to YES Bank

TIL Desk/Business/Mumbai/ Reliance Infrastructure Limited and YES Bank Limited announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank. The transaction value is Rs 1,200 crore.

Entire proceeds from the sale of Reliance Centre, Santacruz is utilized only to repay the debt of YES Bank. Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days.

Rinfra has closed three major transactions in the last 90 days namely sale of road assets — Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz.

Rinfra exposure of YES Bank has been reduced from Rs 4,000 crore to Rs 2,000 crore. Rinfra is committed to be a debt free company in 2021. YES Bank plans to use the building as its corporate headquarters.