MUMBAI : Adani Road Transport Ltd (ARTL), a wholly-owned subsidiary of Adani Enterprises Ltd (AEL), on Monday announced that it will be acquiring Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited (SIPL) at an enterprise value of ₹1,680 crore.
ARTL, which develops, constructs, operates and manages roads and highway projects in India, will acquire a 49% stake in MBCPNL at first, with an option to acquire additional stake subject to regulatory approval, the company said in a statement.
The gateway connects Maharashtra with 6 neighbouring states, will cover over 20% of the commercial road traffic in India. It has 24 integrated checkposts with exclusive service fee collection rights from commercial vehicles for all key traffic routes in and out of Maharashtra.
“This acquisition also strategically dovetails with the Adani Group’s formidable strength in logistics. a force-multiplying business adjacency for ARTL,” said Krishna Prakash Maheshwari, CEO. He also added, “As the nation’s largest infrastructure player, the Adani Group’s drive to create a world class portfolio of road networks is aligned with our mission to become India’s largest road infrastructure owner and operator. The multibillion dollar profile of road assets we are executing across India encompasses a variety of business models including Hybrid Annuity Mode (HAM), Toll-Operate-Transfer (TOT), Build-Operate-Transfer (BOT) and a service fee-based network.
Source : mint