Edelweiss Alternatives has successfully concluded the acquisition of L&T Infrastructure Development Projects (LTIDPL) for Rs 60 billion. LTIDPL, which holds several road assets and power transmission lines, was previously a joint venture between L&T (with a 51 per cent stake) and CPP Investments.
The acquisition, announced in December 2022, involves Edelweiss Alternatives acquiring 100 per cent ownership of the JV.
The portfolio acquired includes seven road assets spanning 4,400 lane-km and a 960 circuit km power transmission line. With this acquisition, Edelweiss Alternatives’ infrastructure platform now boasts a portfolio of 26 assets, including 5,000 lane km of roads, 1,800 km of power transmission assets, and 813 MWP of renewables, generating a cumulative annual revenue of Rs 30 billion.
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