January 15, 2024
Shardul Amarchand Mangaldas advised PNC Infratech Limited and PNC Infra Holdings Limited on sale of 11 hybrid annuity road assets and 1 toll road asset to Highway Infrastructure Trust (KKR-sponsored). The deal was valued approximately at US$ 1 Billion+ and was signed on 15 January 2024.
It is the largest road / highway sector transaction in India involving sale of interests in projects assets developed on a hybrid annuity model.
The transaction team was led by Kushal Sinha, Partner; Dhrupad Pant, Partner; Rishab Chaudhary, Senior Associate; Aayush Agarwal, Associate; and Shamik Gupta, Associate.
Highway Infrastructure Trust was advised by Trilegal and EY on the legal and financial advisory aspects, respectively.
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