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Business Headlines l Mukesh v/s Anil Ambani : What asset have they sold recently?

The Ambani brothers – Mukesh and Anil Ambani have sold an asset each in their respective companies, however, for seperate reasons. Brookfiled Asset Management Company has purchased the East West Pipeline Project from Mukesh Ambani led Reliance Industries Ltd. for ₹ 13,000 crores. The pipeline transports natural gas from the east to the west coast, but has been making losses in the recent past. However, the deal is structured in such a way that Reliance Industries has the right to purchase it back after 20 years. Anil Ambani led Reliance Infra has sold its stake in the Delhi Agra Toll Road project for 3,600 crores. The proceeds from this sale will go to reduce its debt, which will be slashed by 25% to 5,000 crores. Interbrand, the world’s leading brand consultancy firm has come out with the list for the most valuable Indian brands for 2019. Tata tops the list with Reliance in second place and Airtel in third place.

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