Vinci Highways Acquires 51% Stake in SH1 Motorway in Telangana
Vinci Highways has agreed to acquire a 51% stake in HKR Roadways Limited, the company holding the concession for the SH1 motorway in Telangana. The deal, expected to close by the end of 2024, is subject to approval from relevant authorities. Vinci Highways hopes this acquisition will strengthen its strategic partnership with GIP, first established in 2019.
The SH1 motorway, commissioned in 2014, stretches 206km between Hyderabad and the north-east of Telangana. HKR Roadways holds a contract ending in 2041 for the motorway's concession. Upon closing, Vinci Highways will invest around €40m (£33m) of equity in the transaction. The acquisition is subject to approval from the Federal Cartel Office (Bundeskartellamt) and potentially the Federal Ministry for Economic Affairs and Climate Action (BMWK).
Vinci Highways already operates in India through its subsidiary ViaPlus, specialising in electronic toll systems and employing nearly 400 people in Hyderabad. The acquisition is a partnership between Vinci Highways and GIP's Emerging Markets Fund.
The acquisition of a majority stake in HKR Roadways by Vinci Highways, in partnership with GIP's Emerging Markets Fund, is expected to be finalised by the end of 2024. This deal aims to strengthen the strategic partnership between Vinci Highways and GIP, first established in 2019, and expand Vinci's presence in the Indian market.
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