VINCI signs an agreement to acquire a majority stake in a motorway concession in India
September 09 2024 - 2:30AM
UK Regulatory
VINCI signs an agreement to acquire a majority stake in a motorway
concession in India
Nanterre, 9 September 2024
VINCI signs an agreement to acquire a
majority stake in a motorway concession in India
- Acquisition of a 51% stake in the
concession company for the SH1 motorway near Hyderabad
- Concession lasting a remaining
16 years to operate 206 km of motorway
- Acquisition expected to be
finalised by end-2024
VINCI Highways, a subsidiary of VINCI
Concessions, 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. Upon closing, VINCI Highways will invest around €40
million of equity in this transaction.
Commissioned in 2014, the motorway is an
essential connection spanning 206 km across Telangana, between
its capital Hyderabad (population of 11 million) and the
north-east of the state.
This acquisition has been made in partnership
with the Global Iinfrastructure 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.
It 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.
Moreover, VINCI Highways already operates in
India through its subsidiary ViaPlus, which specialises in
electronic toll systems, where it employs nearly 400 people in
Hyderabad.
About VINCI
VINCI is a global player in concessions, energy and construction,
employing over 280,000 people in over 120 countries. We design,
finance, build and operate infrastructure and facilities that help
improve daily life and mobility for all. Because we believe in
all-round performance, we are committed to operating in an
environmentally and socially responsible manner. And because our
projects are in the public interest, we consider that reaching out
to all our stakeholders and engaging in dialogue with them is
essential in the conduct of our business activities. VINCI’s goal
is to create long-term value for its customers, shareholders,
employees, and partners, and for society at large.
www.vinci.com
This press release is an official information document of
the VINCI Group.
PRESS CONTACT
VINCI Press Department
Tel: +33 (0)1 57 98 62 88
media.relations@vinci.com
- CP VINCI Concession autoroute Inde_20240909_VA
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