Vinci Highways, a subsidiary of Vinci Concessions, has signed an agreement to acquire a 51% stake in the company HKR Roadways Limited, which holds a contract ending in 2041 with the Telangana state government for the concession to the SH1 motorway.
This acquisition has been made in partnership with the Global Infrastructure Partners’ (GIP) Emerging Markets Fund, with Vinci Highways and GIP holding 51% and 49%, respectively, in the concession company.
The acquisition is expected to be finalised by end-2024, subject to approval from the relevant authorities whilst Vinci Highways will, upon closing, invest around €40m (£33m) of equity in this transaction.
Vinci Highways hope that the deal will strengthen the strategic partnership first established with GIP when Vinci Airports took on majority stakes in London Gatwick airport in 2019 and Edinburgh airport in 2024.
Vinci Highways also already operates in India through its subsidiary ViaPlus, which specialises in electronic toll systems, where it employs nearly 400 people in Hyderabad.
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