The Adani Group has terminated the agreement between Adani Roads, a subsidiary of Adani Enterprises, to acquire the road portfolio from Macquarie Asia Infrastructure Fund (MAIF) for Rs 31.10 billion. Previously, in August 2022, the firm had decided to acquire 100 per cent stake in Swarna Tollway Private (STPL) and 56.8 per cent stake in Gujarat Road and Infrastructure Company.
However, due to non-satisfaction of conditions to closing by the seller within the agreed timeline under the share purchase agreement, Adani Enterprises has terminated the deal.
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