Khaitan & Co advises National Investment and Infrastructure Fund in relation to acquisition of stake by NIIF in Navayuga Quazugund Expressway Private Limited

DEAL DETAILS

National Investment and Infrastructure Fund (NIIF) | Acquisition of Stake in Navayuga Quazugund Expressway Private Limited

NO

HEADINGS

DETAILS

1.

Sector

Roads and Highways

2.

Completion Date

3.

Name of Client

National Investment and Infrastructure Fund

4.

Acquirer Details

National Investment and Infrastructure Fund

A Sovereign-linked Alternative Asset Manager operating in two distinct and attractive asset classes: Indian Infrastructure; Growth Equity. Over USD 4.3 billion assets under management.

5.

Seller and Target Details

Navayuga Group of companies | India | Seller
Navayuga Quazigund Expressways Pvt Ltd | India | Target

6.

Deal Description

Advised National Investment and Infrastructure Fund in relation to acquisition of stake by NIIF in Navayuga Quazugund Expressway Private Limited from Navayuga Engineering Company Limited, at an enterprise value of USD 380 Million. The four-laned 16.3 km expressway between Quazigund and Banihal Section of NH-1A developed and operated by Navayuga Quazugund Expressway Private Limited, includes a bi-directional 8.5 km continuous twin-tube tunnel stretch, one of the longest highway tunnels in India. The road provides a vital link between the two important cities in the region, Jammu and Srinagar.

7.

Total Consideration

8.

Team Members

The core team consisted of Akhil Bhatnagar (Partner), Anuj Sahay (Counsel) and Srijita Jha (Associate) with assistance from the following:

Due diligence: Prashant Kumar Singh (Principal Associate), Bhagirath Ashiya (Senior Associate), Sathyajith Nair (Senior Associate), Tavishi Srivastava (Senior Associate)

Competition Law aspects: Sagardeep Rathi (Partner), Ebaad Nawaz Khan (Senior Associate)

Banking and Insolvency/Structuring: Kumar Saurabh Singh (Partner), Ashwij Ramaiah (Senior Associate)

9.

Role of Firm

Khaitan & Co was involved in the structuring, drafting, negotiating and finalizing of transaction documents, and providing closing assistance to the Client.

10.

Other legal advisors if any

Shardul Amarchand Mangaldas & Co; Deepto Roy (Partner), Abhishek Guha (Partner), Abhijit Mukherjee (Principal Associate) and Rupal Pangati (Associate)

11.

Press Coverage

https://m.economictimes.com/industry/transportation/niif-acquires-navayuga-quazigund-expressway-in-jammu-kashmir/articleshow/92949214.cms

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