IndInfravit Trust to Acquire 5 Road Projects in India from Brookfield
Posted on 06/10/2022
India’s IndInfravit Trust would acquire five operational road projects from companies owned by Brookfield Asset Management’s funds in a deal valued at about US$ 1.2 billion, including debt, as it seeks to expand its road portfolio. The transaction is subject to certain regulatory and other customary conditions, including approval from relevant regulatory authorities, lenders and unitholders of IndInfravit. The Roads Portfolio comprises three toll roads and two annuity roads, with approx. 2,400 lane kms in Andhra Pradesh, Bihar, Maharashtra and Uttar Pradesh. The Roads Portfolio has been operational, on an average, for approximately 9 years, and have an average residual concession period of 20 years.
IndInfravit currently holds a portfolio of thirteen operational road concessions with approx. 5,000 lane kms spread across five states. This acquisition will expand the portfolio into three additional states, Andhra Pradesh, Bihar and Uttar Pradesh. IndInfravit’s unitholders include Allianz insurance companies represented by Allianz Capital Partners, Canada Pension Plan Investment Board (“CPP Investments”), and OMERS Infrastructure.
Advisors
Ambit acted as the exclusive financial adviser to IndInfravit. Cyril Amarchand Mangaldas acted as legal adviser to IndInfravit.
Keywords: BIF India Holdings Pte Ltd. and Kinetic Holdings 1 Pte Ltd.
