Sadbhav Infrastructure Project (SIPL) and Adani Road Transport (ARTL) have executed Share Purchase Agreement (SPA) on August 16, 2021, for sale of Sadbhav Infrastructure's equity shares of Maharashtra Border Check Post Network (MBCPNL) a wholly owned subsidiary of the Company or a Special Purpose Vehicle of the Company (SPV)(including that held by nominees), out of which 49% shares will be acquired initially by ARTL along with an option to purchase additional stake, in one or more tranches, subject to inter alia the satisfaction of the relevant conditions precedent and receipt of requisite regulatory approvals/consents. The Transaction has an Enterprise Value of Rs 1,680 crore.
Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specializes in the development, operation and maintenance of highways, roads and related projects.
