Adani Road Transport Ltd (Adani Group) is planning to acquire Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited. 

ARTL, an infrastructure road developer in India, will acquire a 49% stake in MBCPNL, with an option to acquire an additional stake subject to regulatory approval. The deal is expected to close in Q3 2022. The enterprise value of the acquisition is US$225.97 million. 

MBCPNL has a portfolio of 24 border check posts, with exclusive service fee collection rights from commercial vehicles for all traffic routes in and out of Maharashtra until 2033. There are 18 operational checkpoints, 4 near-operational, one near completion and one checkpoint under construction.