Vinci Highways Acquires Majority Stake in India's SH1 Motorway
Vinci Highways, a subsidiary of Vinci SA, has agreed to acquire a majority stake in HKR Roadways Limited, the concessionaire of the SH1 highway in Telangana, India. The deal, made in partnership with the Global Infrastructure Partners' (GIP) Emerging Markets Fund, is set to close by the end of 2024, pending regulatory approvals.
The SH1 highway, commissioned in 2014, stretches 206km between Hyderabad and the north-east of Telangana. HKR Roadways holds the concession until 2041. Vinci Highways, led by Xavier Huillard, who also serves as the Chairman and CEO of Vinci SA, will acquire a 51% stake in HKR Roadways. Vinci Highways and GIP will hold 51% and 49% respectively in the transaction. Upon closing, Vinci Highways plans to invest around €40m (£33m) in equity.
The acquisition will strengthen Vinci Highways' presence in India's growing infrastructure sector. It is expected to provide a stable long-term return, given the highway's strategic importance and the remaining concession period.
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