Adani Group to acquire MBCPNL portfolio from Sadbhav Infra for Rs 1,680 cr
Adani Road Transport (ARTL), a wholly-owned subsidiary of Adani Enterprises (AEL), on Monday announced it would be acquiring Maharashtra Border Check Post Network (MBCPNL), a subsidiary of Sadbhav Infrastructure Project, at an enterprise value of Rs 1,680 crore.
The deal is subject to customary regulatory and lender approvals and is expected to close in the third quarter of 2021-22. ARTL, which develops, constructs, operates, and manages roads and highway projects in India, will acquire 49 per cent stake in MBCPNL, with the option to acquire additional stake, the company said in its release.
“This acquisition strategically dovetails into Adani Group’s formidable strength in logistics, a force-multiplying business adjacency for ARTL,” Krishna Prakash Maheshwari, chief executive officer of ARTL, was quoted as saying.
