VINCI Highways has agreed to acquire Macquarie Asset Management’s (MAM) India Toll‑Operate‑Transfer (ToT) road assets for an enterprise value of about Rs 150 billion (around $1.6 billion).
The deal involves nine toll‑road projects totalling about 648 km across Andhra Pradesh and Gujarat, all held under Safeway Concessions Private Limited, a platform created by Macquarie and backed by its Asia Infrastructure Fund 2 (MAIF‑2) and MAIF‑3. These roads fall under the first ToT auction conducted by the National Highways Authority of India (NHAI), for which Macquarie initially paid Rs 96.81 billion in 2018.
Other bidders for the portfolio included Edelweiss‑backed Sekura Roads and KKR‑backed Vertis Infrastructure Trust.