Essel Group will acquire two road projects from a joint venture between Hyderabad-based KNR Constructions and Patel Engineering for an enterprise value of Rs 850 crore.
|Deal||Essel acquires two road projects from KNR-Patel Engineering|
|Value||Rs. 850 crore|
|Law Firms||Luthra & Luthra – Essel Group; Cyril Amarchand Mangaldas – KNR, Patel Engineering|
|Partners/Heads||Luthra & Luthra – Bikash Jhawar and Aditya Periwal; Cyril Amarchand Mangaldas – Ajay Sawhney|
The two projects – Patel KNR Infrastructures Limited (PKIL) and Patel KNR Heavy Infrastructures Limited (PKHIL) – are operating annuity based National Highways awarded by National Highways Authority of India (NHAI) on a build, operate and transfer (BOT) basis.
Luthra & Luthra advised Essel Group on the deal, through a team led by Partners Bikash Jhawar and Aditya Periwal.
Cyril Amarchand Mangaldas acted for KNR and Patel Engineering through a team led by Partner Ajay Sawhney.
The deal was signed on November 12 and closing is expected to take place by March 31 next year.
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