Shardul Amarchand Mangaldas advised Macquarie Asia Infrastructure sale to Adani Road Transport Limited.
Shardul Amarchand Mangaldas & Co. advised Macquarie Asia Infrastructure Fund ("MAIF") on the sale of MAIF's equity shareholding in two operational toll road projects to Adani Road Transport Limited ("Adani"). The road projects are situated at Andhra Pradesh and Gujarat, and are housed in Swarna Tollway Private Limited ("STPL") and Gujarat Road and Infrastructure Company ("GRICL") respectively. As part of the transaction, MAIF proposes to sell 100% of the shareholding of STPL and 56.80% of the shareholding of GRICL, subject to certain regulatory and other customary conditions. The transaction values the projects at a total enterprise value of approximately INR 3,110 crores.
The transaction team was led by Jay Gandhi, Partner; Abhishek Parekh, Partner; Akshath Vidyanath, Senior Associate and Samyukta Shetty, Associate.