IL&FS Transportation Networks has entered into a Restated Share Purchase Agreement (SPA) on October 19, 2023 (SPA) with Sekura Roads, to sell and transfer the entire equity shareholding held by the Company in Jorabat Shillong Expressway (JSEL), a wholly owned subsidiary of the Company for a consideration of Rs 1,343 crore (subject to adjustments in accordance with the terms of the SPA) towards settlement of liabilities of JSEL aggregating Rs 1,621 crore and Re 1 towards equity value. Further, all the liabilities of JSEL has been adjusted against the Enterprise Value of Rs 1,343 crore.
IL&FS Transportation Networks is an established surface transportation infrastructure company and is one of the largest private sector BOT road operators in India. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance.
