KNR Constructions has entered into Share Purchase Agreement (SPA) with Cube Highways and Infrastructure III pte on January 09, 2020 to sell its equity stake in a toll road BOT assets viz KNR Walayar Tollways (SPV). The company holds 100% equity in the SPV.
The enterprise value of the assets for this transaction is Rs 529.27 crore excluding claims receivable from NHAI and other governmental instrumentalities, which would be passed through to the company as and when realised. The transaction is subject to certain conditions precedent including approvals from lenders and NHAI, customer to transactions of this nature and parties anticipate closing of the transaction within next 2- 3 months.
KNR Constructions is a multi-domain infrastructure project development company providing (EPC) engineering, procurement and construction services across various fast growing sectors namely roads & highways, irrigation and urban water infrastructure management.
Company Name | CMP |
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Larsen & Toubro | 3519.25 |
Rail Vikas Nigam | 258.65 |
KEC International | 693.50 |
Kalpataru Projects | 1200.45 |
NCC | 243.50 |
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