Vinci Highways set to acquire Macquarie’s India road assets for Rs 150 billion

VINCI Highways has agreed to acquire Macquarie Asset Management’s 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 Macquarie Asia Infrastructure Fund 2 (MAIF-2) and MAIF-3. These roads fall under the first TOT auction conducted by the 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.