Edelweiss Infrastructure acquires two road assets of Navayuga Group

Edelweiss Alternative Asset Advisors on Sunday said its alternate investment fund, Edelweiss Infrastructure Yield Plus, along with Sekura Roads has acquired two road assets of Vishakhapatnam headquartered Navayuga Group. It, however, did not disclose the acquisition amount. The fund has acquired two road assets including Navayuga Dhola Infra Projects in Assam and Navayuga Dibang Infra Projects in Arunachal Pradesh. “These assets have been acquired from Navayuga Road Projects, a subsidiary of Navayuga Engineering Company, making this one of the first infrastructure deals closed in the current lockdown environment,” the company said in a statement.

According to industry sources, the approximate value of the transaction could be around USD 150 million (about Rs 1,125 crore). Sekura Roads is the road and highway infrastructure platform of the fund, focused on acquiring operating road assets. “With the acquisition of these road assets, Sekura Roads starts its journey to become one of the leading asset owners and investors in the road sector. “The fund is looking to contribute in a sustainable manner to the growing infrastructure assets needs of the country by helping the Indian infrastructure companies to recycle their capital and focus on their core construction business,” the company said.