Why would someone buy debt-ridden loss making business?
According to news sources -
Pipeline infra owned by East West Pipelines Limited will be transferred to Pipeline Infrastructure Private Limited (Pipl).
InvIT sponsor by Brookfield will own 100% equity interest in Pipl.
Revenue and profit/loss of pipeline asset are 885cr and -306cr respectively.
Axis & ICICI bank are providing financing.
Company details -
Disclaimer - All information based on news reports.
Most interesting the alleged role of Andhra Bank and how could future of PSB pan out.