Media & Events
Shardul Amarchand Mangaldas advises Macquarie Asia Infrastructure Fund on the sale of its two operational toll road projects to Highways Infrastructure Trust
August 2, 2023
Shardul Amarchand Mangaldas & Co advised Macquarie Asia Infrastructure Fund (“MAIF”) on the sale of its entire shareholding in Swarna Tollway Private Limited (“STPL”) and Gujarat Road and Infrastructure Company (“GRICL”) to Highway Infrastructure Trust (“HIT”), an infrastructure investment trust owned by global investment firm, KKR. The deal is valued at approximately INR 3000 Crore, and its completion will depend on receipt of relevant approvals and the completion of contractual obligations.
The transaction was led by Abhishek Parekh, Partner; and the deal team comprised Jay Gandhi, Partner; Chaitanya Verma, Associate and Divya Venkatramani, Associate.
The Projects & Projects Finance team comprised Deepto Roy, Partner; Shubham Sharma, Principal Associate and Shravani Bhide, Associate.
The Competition Law team comprised Aparna Mehra, Partner; Ritesh Puri, Associate; Karan Arora, Associate and Ashlesha Singhal, Associate.
Allen & Overy advised MAIF on English law aspects, and EY advised on all tax aspects of the deal. JP Morgan was the investment banker representing MAIF on this deal.
Trilegal and Simpson Thacher & Bartlett LLP advised HIT on the Indian law and English law aspects, respectively.
