OMERS Infrastructure invests in Indian toll road assets
OMERS Infrastructure has announced that it has acquired a 22.4% interest in IndInfravit Trust for a total consideration of INR8.7 billion (US$122.4 million). This is the company's first investment in India.
IndInfravit owns a portfolio of five operational toll road concessions which were initially constructed and operated by L&T Infrastructure Development Projects Limited, a subsidiary of Larsen & Toubro Limited.
IndInfravit is listed on the National Stock Exchange of India Limited as well as BSE Limited, and the other unitholders include Canada Pension Plan Investment Board, Allianz Capital Partners, L&T IDPL and other institutional investors. It is a platform well placed to play a key role in the future through additional investments in the road infrastructure in India.
L&T IDPL sponsored the IndInfravit Trust and is also acting as its Project Manager and its subsidiary is acting as the Investment Manager for IndInfravit.
Ambit Private Limited acted as financial adviser to OMERS Infrastructure.
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