CCI Approves Epic Concesiones' Acquisition from Ashoka Group

28 Mar 2025 CW Team

Transaction overview

Under this deal, EC2PL will take full ownership of 11 road project SPVs, which manage national and state highways under concession agreements with government authorities. The acquisition is expected to streamline operations, attract long-term capital, and enhance efficiency in the road infrastructure sector.

About the acquirer

EC2PL is a privately held infrastructure investment company, ultimately owned by the Infrastructure Yield Trust. This trust operates through Infrastructure Yield Plus II (IYP II) and Infrastructure Yield Plus IIA (IYP IIA), both SEBI-registered Category I Infrastructure Alternative Investment Funds (AIFs). These funds are managed by EAAA India Alternatives Limited (EIAL), a subsidiary of Edelweiss Financial Services Limited (EFSL).

Strategic significance

Ashoka Concessions and Ashoka Buildcon are monetising mature road assets, allowing them to focus capital on new infrastructure projects.
The deal aligns with India’s National Infrastructure Pipeline (NIP) and asset monetisation strategy, attracting institutional investment into core infrastructure.
It signals the maturity of India’s infrastructure sector, where operational projects generate strong interest from long-term investors.

Future implications

With CCI's approval, EC2PL will assume operational control of the acquired SPVs. This transaction reflects growing investor confidence in India’s roads and highways sector, potentially paving the way for similar asset acquisitions across ports, energy, and urban transit.

(devdiscorse)

The Competition Commission of India (CCI) has approved the 100% acquisition of 11 special purpose vehicles (SPVs) owned by Ashoka Concessions Limited (ACL) and Ashoka Buildcon Limited (ABL) by Epic Concesiones 2 Private Limited (EC2PL). This marks a major consolidation move in India's road infrastructure sector, aligning with the trend of monetisation of operational highway assets. Transaction overview Under this deal, EC2PL will take full ownership of 11 road project SPVs, which manage national and state highways under concession agreements with government authorities. The acquisition is expected to streamline operations, attract long-term capital, and enhance efficiency in the road infrastructure sector. About the acquirer EC2PL is a privately held infrastructure investment company, ultimately owned by the Infrastructure Yield Trust. This trust operates through Infrastructure Yield Plus II (IYP II) and Infrastructure Yield Plus IIA (IYP IIA), both SEBI-registered Category I Infrastructure Alternative Investment Funds (AIFs). These funds are managed by EAAA India Alternatives Limited (EIAL), a subsidiary of Edelweiss Financial Services Limited (EFSL). Strategic significance Ashoka Concessions and Ashoka Buildcon are monetising mature road assets, allowing them to focus capital on new infrastructure projects. The deal aligns with India’s National Infrastructure Pipeline (NIP) and asset monetisation strategy, attracting institutional investment into core infrastructure. It signals the maturity of India’s infrastructure sector, where operational projects generate strong interest from long-term investors. Future implications With CCI's approval, EC2PL will assume operational control of the acquired SPVs. This transaction reflects growing investor confidence in India’s roads and highways sector, potentially paving the way for similar asset acquisitions across ports, energy, and urban transit. (devdiscorse)

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