MoneyWorks4Me

IVRCL terminates long pending deal with TRIL Roads for sale of 3 SPV’s

21 Aug 2017 Evaluate

IVRCL has terminated the long pending deal with TRIL Roads for sale of 3 SPV’s -- Kumarapalayam Tollways, Salem Tollways and IVRCL Chengapalli Tollways. The deal got terminated due to delay in achieving certain conditions precedent as per the share purchase agreements.

The company is exploring other options for divestment of these tollway projects in order to reduce the debt burden of these SPV companies and free the investment of the company.

IVRCL is engaged in the business of development and execution of engineering, procurement, construction and commissioning (EPCC) and lump sum turnkey (LSTK) facilities in various Infrastructure projects.


Peers
Company Name CMP
Larsen & Toubro 3699.00
Kalpataru Projects 1456.60
NCC 126.90
Rail Vikas Nigam 196.00
KEC International 362.35
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