SAM advises PNC Infratech Ltd. and PNC Infra Holdings Ltd. on sale of assets to Highway Infrastructure Trust

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.

About Shardul Amarchand Mangaldas & Co:

Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, technology law and projects & infrastructure.

The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 824 lawyers including 165 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.