CPPIB-led InvIT to acquire Sadbhav Infra’s 9 road assets

MUMBAI: IndInfravit Trust, the infrastructure investment trust (InvIT) floated by L&T Infrastructure Development Projects, will acquire nine operational road assets of Sadbhav Infrastructure Project Limited (SIPL). The transaction values 100% of the roads portfolio of SIPL at an enterprise value of Rs.6610 crore, said a company statement.

Canadian pension fund Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners own about 55 per cent of the IndInfravit Trust units.