Khaitan & Co advises National Investment and Infrastructure Fund in relation to acquisition of stake by NIIF in Navayuga Quazugund Expressway Private Limited
National Investment and Infrastructure Fund (NIIF) | Acquisition of Stake in Navayuga Quazugund Expressway Private Limited
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HEADINGS
DETAILS
1.
Sector
Roads and Highways
2.
Completion Date
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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.
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Total Consideration
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8.
Team Members
The core team consisted of Akhil Bhatnagar (Partner), Anuj Sahay (Counsel) and Srijita Jha (Associate) with assistance from the following:
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)
