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..DealEssel acquires two road projects from KNR-Patel EngineeringValueRs. 850 croreDeal TypeM&ASectorInfrastructureLaw FirmsLuthra & Luthra – Essel Group; Cyril Amarchand Mangaldas – KNR, Patel EngineeringPartners/HeadsLuthra & 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.
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..DealEssel acquires two road projects from KNR-Patel EngineeringValueRs. 850 croreDeal TypeM&ASectorInfrastructureLaw FirmsLuthra & Luthra – Essel Group; Cyril Amarchand Mangaldas – KNR, Patel EngineeringPartners/HeadsLuthra & 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.
