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L&T IDPL portfolio contains eight roads, spanning 4,900 lane-km and one 960 ckm energy transmission asset.
L&T IDPL portfolio contains eight roads, spanning 4,900 lane-km and one 960 ckm energy transmission asset.
Larson & Tourbo (L&T) has accomplished the sale of its total stake in L&T Infrastructure Development Projects Limited (LTIDPL), a three way partnership with Canada Pension Plan Investment Board (CPP Investments).
Epic Concesiones Private Limited, an investee firm of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors Limited (EAAA) has acquired L &T’s 51 p.c and CPP Investments’ 49 p.c stakes, firm mentioned in a regulatory submitting on April 11.
The deal is consistent with L&T’s technique to exit non-core companies for lowering publicity to the asset-heavy developmental tasks portfolio, enhancing its return on fairness (RoE).
“With this acquisition, the infrastructure platform will scale up to 26 assets, comprising around 5,000 lane-kms of roads, around 1,800 ckms of power transmission assets and around 813 MWp of renewables with cumulative annual revenue of Rs 3,000 crore,” Edelweiss mentioned in a separate assertion.
Epic Concesiones is buying the stake at an enterprise worth of Rs 6,000 crore, the businesses mentioned in 2022.
L&T IDPL portfolio contains eight roads, spanning 4,900 lane-km and one 960 ckm energy transmission asset.
