Ashoka Buildcon Ltd. Sells Stake in 5 SPVs to Epic Concesiones 2 Private Limited for Rs. 1,146 Crores
Ashoka Buildcon Ltd. and its material subsidiary, Ashoka Concessions Limited, have sold their respective 100% stake in shares and securities of 5 Special Purpose Vehicles (SPVs) to Epic Concesiones 2 Private Limited. The total consideration for the sale is Rs. 1,146 Crores, including certain holdbacks. The SPVs involved in the transaction are Ashoka Kharar Ludhiana Road Limited, Ashoka Khairatunda Barwa Adda Road Limited, Ashoka Ranastalam Anandapuram Road Limited, Ashoka Ankleshwar Manubar Expressway Private Limited, and Ashoka Kandi Ramsanpalle Road Private Limited. The sale has been completed for these 5 SPVs, while the completion of sale for the remaining 6 SPVs is subject to certain conditions precedent and other terms and conditions.
Key Highlights
- Ashoka Buildcon Ltd. and Ashoka Concessions Limited sell their respective 100% stake in 5 SPVs.
- The total consideration for the sale is Rs. 1,146 Crores, including certain holdbacks.
- The SPVs involved in the transaction are Ashoka Kharar Ludhiana Road Limited, Ashoka Khairatunda Barwa Adda Road Limited, Ashoka Ranastalam Anandapuram Road Limited, Ashoka Ankleshwar Manubar Expressway Private Limited, and Ashoka Kandi Ramsanpalle Road Private Limited.
- The sale has been completed for the 5 SPVs, while the completion of sale for the remaining 6 SPVs is subject to certain conditions precedent and other terms and conditions.
- The buyer, Epic Concesiones 2 Private Limited, does not belong to the promoter/ promoter group/group companies of the Company.