KKR to acquire GIP's highway business
ROADS & HIGHWAYS

KKR to acquire GIP's highway business

Global investment company KKR & Co Inc is set to acquire Global Infrastructure Partners' (GIP's) complete portfolio in Highway Concessions One (HC1) and seven highway assets with an entire length of 478 km.

HC1 is a road platform in India that leads the road portfolio of GIP.

These projects spread across seven states, Madhya Pradesh, Meghalaya, Rajasthan, Gujarat, Karnataka, Tamil Nadu, and Telangana.

It is KKR’s first investment in the transport sector in Asia. Through this acquisition, KKR intends to develop and strengthen the National Highway network of India, which serves nearly 40% of total traffic. However, it estimates only 2% of the country's road network.

KKR told the media that it made its investment from the KKR Asia Pacific Infrastructure Fund. It is the third investment of KKR in India from the fund and the first in the transport sector of Asia.

New infrastructure investments in India consists of Virescent Infrastructure, a renewable energy firm, and India Grid Trust (IndiGrid), an infrastructure investment trust. EY and Deloitte served as advisors, while AZB & Partners and Simpson Thacher & Bartlett served as legal advisors to KKR.

Wipro sold its stake worth nearly $76.24 million in hybrid IT services provider Ensono Holdings to KKR.

In March 2018, Wipro acquired a 10.2% stake in an Illinois-headquartered company, an investment of $55 million.

When Wipro sold its hosted data centre business to Ensono for a consideration of $405 million, it signed a long-term cooperation agreement with the company.

As part of the agreement, Wipro gave 900 employees to Ensono and sold eight data centres to the company.

Image Source


Also read: NHAI to increase size of InvIT to Rs 15,000 crore

Also read: Cube Highways to sell road assets through InvIT

Global investment company KKR & Co Inc is set to acquire Global Infrastructure Partners' (GIP's) complete portfolio in Highway Concessions One (HC1) and seven highway assets with an entire length of 478 km. HC1 is a road platform in India that leads the road portfolio of GIP. These projects spread across seven states, Madhya Pradesh, Meghalaya, Rajasthan, Gujarat, Karnataka, Tamil Nadu, and Telangana. It is KKR’s first investment in the transport sector in Asia. Through this acquisition, KKR intends to develop and strengthen the National Highway network of India, which serves nearly 40% of total traffic. However, it estimates only 2% of the country's road network. KKR told the media that it made its investment from the KKR Asia Pacific Infrastructure Fund. It is the third investment of KKR in India from the fund and the first in the transport sector of Asia. New infrastructure investments in India consists of Virescent Infrastructure, a renewable energy firm, and India Grid Trust (IndiGrid), an infrastructure investment trust. EY and Deloitte served as advisors, while AZB & Partners and Simpson Thacher & Bartlett served as legal advisors to KKR. Wipro sold its stake worth nearly $76.24 million in hybrid IT services provider Ensono Holdings to KKR. In March 2018, Wipro acquired a 10.2% stake in an Illinois-headquartered company, an investment of $55 million. When Wipro sold its hosted data centre business to Ensono for a consideration of $405 million, it signed a long-term cooperation agreement with the company. As part of the agreement, Wipro gave 900 employees to Ensono and sold eight data centres to the company. Image Source Also read: NHAI to increase size of InvIT to Rs 15,000 crore Also read: Cube Highways to sell road assets through InvIT

Next Story
Infrastructure Urban

Patel Engineering Secures Two Projects Worth Rs 20.37 Billion

Patel Engineering Ltd has secured two important infrastructure projects valued at Rs 20.37 billion. The company received an order from the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) for dam construction and associated works in Maharashtra. The project will be executed over a period of 42 months. Another project, awarded by the North Eastern Electric Power Corporation Ltd (NEEPCO), involves the development of a 240 MW hydropower project in Arunachal Pradesh. The project scope includes civil construction, testing, commissioning, and installation of hydro-mechanical e..

Next Story
Infrastructure Urban

M B Patil Seeks Centre’s Support For Karnataka’s Industrial Growth

Karnataka’s Minister for Large and Medium Industries M B Patil has urged the central government to support the state in strengthening freight corridors and logistic infrastructure. He was speaking at a round table on ‘Focussing on the Steel Sector in the State of Karnataka’ during the 6th edition of India Steel-25, an International Conference-cum-Exhibition organised by the Ministry of Steel. Patil highlighted Karnataka’s contribution of 15 per cent to India’s steel production and the efforts by the state government to promote cluster-based development, integrated industrial corrido..

Next Story
Infrastructure Energy

EdgePoint Towers Launches First Solar Hybrid Telecommunications Site

EdgePoint Towers Sdn Bhd, part of EdgePoint Infrastructure, has launched its first solar hybrid site in Malaysia, advancing renewable energy integration in the telecommunications sector. The deployment marks a major step towards sustainable energy solutions, providing up to 100 per cent of the energy required to operate telecommunications equipment. The site, with a 5.9-kilowatt peak (kWp) capacity, operates autonomously using photovoltaic energy supported by battery storage. This hybrid system significantly reduces dependence on diesel fuel, aiming to cut annual carbon emissions by around 78..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?