IndInfravit acquires eight road projects of Sadbhav Infrastructure Project Limited

 

The Larsen & Toubro (L&T) Group-run IndInfravit has completed the acquisition of 100 per cent stake in eight operational road projects of Sadbhav Infrastructure Project Limited at an enterprise value of Rs 63 billion. IndInfravit had entered into a definitive agreement with Sadbhav Infrastructure to acquire its nine road assets in July 2019. Eight of the projects are the Bhilwara Rajsamand Tollway, the Dhule Palesner Tollway, the Hyderabad Yadgiri Tollway, the Nagpur Seoni Expressway, the Shreenathji Udaipur Tollway, the Bijapur-Hungund Tollway, the Aurangabad Jalna Tollway and the Mysore Bellary Highway. Of these projects, six are toll roads while the remaining two are annuity roads, and have a total length of 2,300 km across Karnataka, Maharashtra, Rajasthan and Telangana. However, the acquisition of the ninth asset, Ahmedabad Ring Road Infrastructure, is pending the receipt of requisite regulatory approvals and fulfilment of certain other conditions set out under the definitive documents.

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