Shardul Amarchand Mangaldas advised HKR Roadways Limited on its acquisition by GIP EM India Highways Pte. Limited and VINCI Highways SAS

September 19, 2024

Shardul Amarchand Mangaldas & Co. advised HKR Roadways Limited, (“Sellers”) in its acquisition by GIP EM India Highways Pte. Limited and VINCI Highways SAS (collectively, “Purchasers”).

A securities purchase and subscription agreement was executed amongst the purchasers (“SPSA”) for: (a) acquisition of 100% of the shares held by GHL and KSSF in HKR by GIP and VINCI; (b) redemption of 100% of the cumulative redeemable preference shares held by GHL and KSSF by HKR; (c) redemption of 100% of the non-convertible debentures held by KSSF; and (d) the repayment of the term loan availed by HKR from Axis Bank Limited and Kotak Mahindra Bank Limited (“Transaction”).

The transaction team was led by Deepto Roy, Partner; Dnyanraj Desai, Partner; Pranav Nanda, Principal Associate; Shubham Sharma, Principal Associate; Subhojit Das, Senior Associate; Charana Reddy, Associate.

Ernst & Young and Grant Thornton LLP advised the seller on the financial and tax aspects respectively.