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Construction : Deals | October 2014 | Source : Construction Update

New Generation Infrastructure to acquire three toll road projects from Valecha

Valecha Infrastructure Ltd, wholly owned subsidiary of BSE and NSE listed firm Valecha Ltd has signed up an agreement with New Generation Infrastructure Inc for the sale of its three toll road projects in Madhya Pradesh (MP) and Gujarat for an aggregate consideration of apporximately Rs 3090 million. The three BOT toll roads have an estimated enterprise value equivalent to US$ 207 million. According to the agreement, the company will sell its stake in Valecha LM Toll Pvt Ltd (MP) and Valecha Badwani Sendhwa Tollways Ltd (Gujarat) to New Generation Infrastructure (NGI). Once the transaction is completed, Valecha Engineering will also be selling its shareholding in Valecha Infrastructure to the US firm.
 
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