M&A

M&A

Adani to acquire Maharashtra check post portfolio from Sadbhav Infra for Rs.1,680-Cr

Mint  

Adani Road Transport Ltd (ARTL), a wholly-owned subsidiary of publicly listed Adani Enterprises Ltd (AEL), is to acquire a 49% stake in Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of publicly listed Sadbhav Infrastructure Project Ltd (SIPL), at an enterprise value of INR 1,680 crore. It has the option to acquire an additional stake subject to regulatory approval. The gateway connects Maharashtra with 6 neighbouring states, and will cover over 20% of the commercial road traffic in India. It has 24 integrated checkposts with exclusive service fee collection rights from commercial vehicles for all key traffic routes in and out of Maharashtra.