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MEP Infrastructure Developers to divest stakes in road projects

Friday, 10 Aug 2018
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MEP Infrastructure Developers is divesting its entire stake in six road projects to Singapore-based Indian Highways Developers for over Rs 450 crore.

The company inked a non-binding term sheet with the investor in which consideration of over Rs 450 crore will be received from the sale of 100 percent stake in the special purpose vehicles (SPVs).

The road portfolio offered for sale includes six SPVs — MEP Nagpur Rind Road 1, MEP Sanjose Nagar Ring Road 2, MEP Sanjose Arawali Kante Road, MEP Sanjose Kante Waked Road, MEP Sanjose Talaja Mahuva Road and MEP Sanjose Mahuva Kagavadar Road.

MEP Infrastructure Developers expects to complete the sale before 31 March 2020, in conformance with the provisions of the respective concession agreements.

 
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