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KKR InvIT acquires Macquarie's 4 road assets for Rs.3,000-Cr

Economic Times  

Highways Infrastructure Trust (HIT), an infrastructure investment trust (InvIT) owned by KKR, has acquired four road assets - two each held by Gujarat Road & Infrastructure (GRICL) and Swarna Tollway (STPL) - in a deal worth INR 3,000 crore. Macquarie Asia Infrastructure Fund owns a 56.8% stake in GRICL, while IL&FS holds 26.8% and the balance stake is with the Gujarat government. GRICL and STPL own two toll roads each. GRICL's toll roads are in Gujarat. The Ahmedabad to Mehsana stretch on SH-41 spans 51.6 kms. The second road asset of 31.7 kms from Vadodara to Halol on SH-87 is on the Delhi-Mumbai Industrial Corridor. STPL's assets are in Andhra Pradesh - 110 kms from Tada to Nellore on NH-16 connecting ports such as Chennai and Krishnapatnam and the 48-km Nandigama-Ibrahimpatnam-Vijayawada stretch on NH-65, which provides feeder traffic to NH16. Earlier, Adani Road Transport had agreed to acquire these road assets for INR 3,100 crore, but had terminated the deal last month.