Adani Group terminates road acquisition deal worth Rs xx billion from Macquarie

The Adani Group has terminated the agreement allowing Adani Roads, a subsidiary of Adani Enterprises, to acquire the road portfolio from Macquarie Asia Infrastructure Fund for Rs 31.1 billion. Earlier, in August 2022, the firm had decided to acquire a 100 per cent stake in SwarnaTollway Private Limited and a 56.8 per cent stake in the Gujarat Road and Infrastructure Company. However, due to the seller failing to satisfy closing conditions within the agreed timeline under the share purchase agreement, Adani Enterprises has terminated the agreement.