Bharat Road Network inks deal for sale of road project in Odisha
Bharat Road Network on Thursday said it has signed an agreement with India Highway Concession Trust, an infrastructure investment trust set up by Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ), for the sale of a road project in Odisha.
The company has executed a securities purchase agreement with Indian Highway Concessions Trust acting through its investment manager, for sale of the entirety of the company’s shareholding in Shree Jagannath Expressways Pvt Ltd, Bharat Road Network Ltd (BRNL) said in a regulatory filing.
Bharat Road Network said the equity value of the proposed transaction is subject to adjustments of debt and other capital and operational costs at closing date and hence net consideration receivable is not ascertainable at this stage.
