Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  KKR acquires seven highways assets from Global Infrastructure Partners
BackBack

KKR acquires seven highways assets from Global Infrastructure Partners

KKR made its investment from the KKR Asia Pacific Infrastructure Fund. The investment represents KKR’s third investment in India from the fund and the firm’s first investment in Asia’s transport sector

EY and Deloitte acted as KKR’s advisors. (REUTERS)Premium
EY and Deloitte acted as KKR’s advisors. (REUTERS)

Mumbai: US private equity firm KKR on Monday said it has signed definitive agreements to acquire Global Infrastructure Partners’ (GIP) entire stake in Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometers.

HC1 is a platform that manages GIP’s India road portfolio which spans across seven states -- Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.

“Roads are one of the largest and most crucial infrastructure assets in India, where the world’s second-largest road network is located. Rapidly increasing passenger and commercial vehicle traffic has driven the strong demand to expand the country’s road network even further and the reciprocal need for investment in the sector," said Hardik Shah, Managing Director and Head of India Infrastructure at KKR. "This is why the transportation sector is a key area of our infrastructure strategy in India. We are truly excited to invest in a high-quality platform and through HC1 play a part in India’s transport infrastructure."

KKR made its investment from the KKR Asia Pacific Infrastructure Fund. The investment represents KKR’s third in India from the fund and the firm’s first investment in Asia’s transport sector. Recent infrastructure investments in India include India Grid Trust (IndiGrid), an infrastructure investment trust and Virescent Infrastructure, a renewable energy company.

EY and Deloitte acted as KKR’s advisors while AZB & Partners and Simpson Thacher & Bartlett acted as legal advisors to KKR.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 05 Jul 2021, 12:16 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie