Brief: Indinfravit Trust To Buy Stake In Nine Of Sadbhav Infrastructure Project's Road Projects

Sadbhav Engineering

01/07/2019 13:50

July 1 (Reuters) - Indinfravit Trust  INNF.NS :
    * AGREED TO PURCHASE SADBHAV INFRASTRUCTURE PROJECT'S STAKE
IN
NINE OF SIPL'S OPERATIONAL ROAD PROJECTS
    * SAYS TRANSACTION VALUES 100% OF ROADS PORTFOLIO AT AN
ENTERPRISE
VALUE OF 66.10 BILLION RUPEES
    * POST DEAL, SIPL WILL RECEIVE CONSIDERATION FROM
INDINFRAVIT IN
CASH AS WELL AS ALLOTMENT OF UNITS OF INDINFRAVIT
    * SAYS POST COMPLETION, SIPL WILL HOLD NOT EXCEEDING 10%
UNITHOLDING IN INDINFRAVIT.

Source text: http://bit.ly/2RQaVwH
Further company coverage:  INNF.NS 

 ((Reuters.Briefs@thomsonreuters.com;))