IndInfravit Trust, an infrastructure investment trust (InvIT) sponsored by the L&T Group, said that it is acquiring nine operational road assets from Sadbhav Infrastructure Project Ltd for ₹6,610 crore. IndInfravit is acquiring the assets through a mix of cash payment and units of the InvIT. Post completion of the transaction, Sadbhav will likely hold up to 10% units in IndInfravit.
CPPIB-backed IndInfravit to acquire Sadbhav’s nine road assets for $960m
Date posted: Tuesday 2 July 2019