Adani unit to buy some of Macquarie Asia’s India toll roads for Rs 3,110 cr

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.