Adani Enterprises has begun the process of acquiring the network of border check posts in Maharashtra from Sadbhav Infrastructure Projects Ltd for an enterprise value of ₹1,680 crores. These 24 border checkpoints come under the Maharashtra Border Check Post Network (MBCPNL), with Adani and Sadbhav Infra reaching a definitive agreement on Monday, Aug 16.
The acquisition will be carried out by Adani Road Transport Ltd (ARTL). The company will acquire a 49 per cent stake in MBCPNL and will have the option to purchase more stake pending regulatory approvals.
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CEO of Adani Road Transport, Krishna Prakash Maheshwari said, “The multibillion-dollar profile of road assets we are executing across India encompasses a variety of business models including hybrid annuity, toll-operate-transfer, build-operate-transfer and a service fee-based network. This acquisition also strategically dovetails with the Adani Group’s formidable strength in logistics, a force-multiplying business adjacency for ARTL.”
Adani Group said that the enterprise value of ₹1,680 crores is seven times greater than its current earnings before interest, taxes, depreciation, and amortization (EBIDTA). “MBCPNL is an important gateway connecting Maharashtra with 6 neighbouring states, which covers over 20% of the commercial road traffic in India,” the company went on to say.
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