Adani Acquires Two Highway Developers, Expanding Road Network
Adani Road Transport Ltd, a subsidiary of Adani Enterprises Ltd, has inked a deal to acquire two highway development companies. Ashoka Buildcon Ltd, a Karnataka-based construction giant, sold Yashodhan Highways Pvt Ltd and KN Highways Development Pvt Ltd to Adani in a significant move.
The acquisition sees Adani Road Transport Ltd taking a 100% stake in both Yashodhan Highways Pvt Ltd and KN Highways Development Pvt Ltd. The deal was signed with DRN Infrastructure Pvt Ltd, another Karnataka-based construction firm involved in road, railway, and utility projects. Ashoka Buildcon Ltd, the seller, is also a prominent player in the construction sector, with a strong presence in Karnataka.
The acquisition by Adani Road Transport Ltd expands its footprint in the highway development sector. Both Yashodhan Highways Pvt Ltd and KN Highways Development Pvt Ltd bring valuable assets and expertise to Adani's portfolio, potentially boosting its growth and market position.
Read also:
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Conflict between Ben & Jerry's co-founder and Unilever over Gaza issues leads to resignation of co-founder
- Russian Auto Market Braces for Crisis as Chinese Suppliers Consider Exit
