IL&FS Transportation Networks has entered into a Share Purchase agreement (SPA) with unincorporated consortium led by Premier International Convention Centre & Hotel, a partnership firm, to sell and transfer the entire equity shareholding held by the Company in Karyavottam Sports Facilities (KSFL), a wholly owned subsidiary of the Company. As stated therein, the transaction is subject to receipt of various approvals including inter alia from National Company Law Tribunal and the Concessioning Authority.
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.
