Vinci to Buy Motorway Concession Stake in India

By Christian Moess Laursen

Vinci said it would buy a majority stake in a motorway concession in India for an undisclosed sum.

The French construction and infrastructure company said Monday that Vinci Highways signed a deal to buy a 51% stake in HKR Roadways, which holds a contract ending in 2041 with the Telangana state government for the concession to the SH1 motorway.

The deal is expected to close by end-2024. Upon closing, Vinci Highways will invest around 40 million euros ($44.3 million) in this transaction.

The motorway, which was commissioned in 2014, is an essential connection spanning 206 kilometers across the south-central state of Telangana, between its capital Hyderabad and the north-east of the state.

The deal was made in partnership with Global Infrastructure Partners, which will hold the remaining 49% in the concession company.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

September 09, 2024 03:08 ET (07:08 GMT)

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