IL&FS Transportation Networks (ITNL),
a subsidiary of Infrastructure Leasing & Financial Services (IL&FS) has acquired
Elsamex SA of Spain (a road maintenance, operation and management company) for
50 million euros.
The proposed acquisition highlights
the increased focus on the operation and maintenance capabilities of road
operators in India. IL&FS Financial Services and Ernst & Young jointly advised
ITNL on the transaction.
ITNL is engaged in developing and
managing a national and state highway network in excess of 3,200 km spread
across nine states in India.