KKR-backed Invit snaps up 12 road projects for Rs 9,005.70 crore
KKR-backed Highways Infrastructure Trust (HIT) will acquire 12 road projects from PNC Infratech and PNC Infra Holdings at an enterprise value of Rs 9,005.7 crore. This will be one of the biggest acquisitions in the road and highways sector.
The transaction is subject to certain regulatory and customary conditions, including approval from regulatory authorities and banks.
The road portfolio comprises 11 hybrid annuity concessions from the National Highways Authority of India (NHAI) and one toll road concession from the Uttar Pradesh State Highways Authority (UPSHA).
