Brookfield announced it is buying the loss-making East West Pipeline Ltd (EWPL), earlier known as Reliance Gas Transportation Infrastructure Ltd, for an enterprise valuation of Rs.13,000 crore ($2 billion) from Mukesh Ambani, chairman of Reliance Industries. Brookfield has already filed the preliminary placement memorandum for setting up a infrastructure investment trust (InvIT). The InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited (“PIPL”) which currently owns and operates the Pipeline.

(Economic Times)