Adani Enterprises said on Thursday its unit will acquire Macquarie Asia Infrastructure Fund’s India toll roads in Andhra Pradesh and Gujarat for Rs 3,110 crore ($391.89 million).
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises Ltd (AEL), engaged in development, construction, operations and management of roads and highway projects in India, has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company Ltd (GRICL) (owned 56.8% by Macquarie Asia Infrastructure Fund) and Swarna Tollway Private Ltd (STPL) (owned 100% by Macquarie Asia Infrastructure Fund). ARTL will acquire 56.8% in GRICL and 100% stake in STPL subject to regulatory approval. The transaction is expected to close in September 2022.
