SAM advises Macquarie Asia Infrastructure Fund on sale of its two operational Toll Road Projects to Highways Infrastructure Trust

Shardul Amarchand Mangaldas & Co advised Macquarie Asia Infrastructure Fund ("MAIF") on the sale of its entire shareholding in Swarna Tollway Private Limited ("STPL") and Gujarat Road and Infrastructure Company ("GRICL") to Highway Infrastructure Trust ("HIT"), an infrastructure investment trust owned by global investment firm, KKR. The deal is valued at approximately INR 3000 Crore, and its completion will depend on receipt of relevant approvals and the completion of contractual obligations.

The transaction was led by Abhishek Parekh, Partner; and the deal team comprised Jay Gandhi, Partner; Chaitanya Verma, Associate and Divya Venkatramani, Associate.

The Projects & Projects Finance team comprised Deepto Roy, Partner; Shubham Sharma, Principal Associate and Shravani Bhide, Associate.

The Competition Law team comprised Aparna Mehra, Partner; Ritesh Puri, Associate; Karan Arora, Associate and Ashlesha Singhal, Associate.

Allen & Overy advised MAIF on English law aspects, and EY advised on all tax aspects of the deal. JP Morgan was the investment banker representing MAIF on this deal.

Trilegal and Simpson Thacher & Bartlett LLP advised HIT on the Indian law and English law 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, capital markets, banking & finance, 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, SAM has around 812 lawyers including 163 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.