Actis to buy Patel Infra's 5 road projects for $91-M: report

PE firm Actis is to acquire five hybrid annuity model (HAM) road projects from Vadodara-based Patel Infrastructure Ltd at an equity value of around USD 91 million. The portfolio of four road assets include a 48.8 km section of NH-12 in Rajasthan, a 31 km section of Vadodara Kim Expressway, the two operational roads and a 50.48 km stretch on NH-45C in Tamil Nadu and another 47.83 km stretch of NH-45C, the under-construction projects. Actis may place these road assets under an infrastructure investment trust (InvIT) that will also house the six operating highway toll road projects that it bought from Welspun Enterprises Ltd last year, at an enterprise value of USD 775 million.