Edelweiss Infrastructure Yield Plus, an alternative investment fund managed by Edelweiss Alternative Asset Advisors (EAAA), along with its portfolio company Sekura Roads, has acquired two annuity road assets from the Navyuga Group. The deal size is at USD 140 million on an enterprise valuation basis.
The two road assets are Navayuga Dhola Infra Projects in Assam and Navayuga Dibang Infra Projects in Arunachal Pradesh.
These assets have been acquired from Navayuga Road Projects, a subsidiary of Navayuga Engineering Company. Sekura Roads is the road and highway infrastructure platform of the fund, focused on acquiring operating road assets and this is its first acquisition.
EAAA has assets under management of over Rs 28,000 crore.
The Dhola and Dibang roads are of strategic importance because they ensure seamless all-weather connectivity between the North-East and the rest of India.