Cyril Amarchand Mangaldas Acted As Legal Advisor To Ashoka Buildcon And Ashoka Concessions
Cyril Amarchand Mangaldas Acted As Legal Advisor To Ashoka Buildcon And Ashoka Concessions
Cyril Amarchand Mangaldas (“CAM”) acted as legal advisors to Ashoka Buildcon Limited and Ashoka Concessions Limited. Ashoka Buildcon Limited (“ABL”) and its material subsidiary, Ashoka Concessions Limited (“ACL”), has entered into securities purchase agreements and other transaction documents with Epic Concesiones 2 Private Limited (“Epic”), Infrastructure Yield Plus II, and Infrastructure Yield Plus IIA (both schemes of Infrastructure Yield Trust and managed by their respective investment manager, EAAA India Alternatives Limited, formerly known as Edelweiss Alternative Asset Advisors Limited) for, inter alia, sale of the entire share capital (including repayment/transfer of all shareholder loans) and management control of the SPVs held by ABL and/or ACL in their following subsidiaries:
1. Ashoka Kharar Ludhiana Road Limited
2. Ashoka Khairatunda Barwa Adda Road Limited
3. Ashoka Ranastalam Anandapuram Road Limited
4. Ashoka Ankleshwar Manubar Expressway Private Limited
5. Ashoka Mallasandra Karadi Road Private Limited
6. Ashoka Bettadahalli Shivamogga Road Private Limited
7. Ashoka Karadi Banwara Road Private Limited
8. Ashoka Belgaum Khanapur Road Private Limited
9. Ashoka Banwara Bettadahalli Road Private Limited
10. Ashoka Kandi Ramsanpalle Road Private Limited
11. Ashoka Baswantpur Singnodi Road Private Limited
For an aggregate consideration of Rs. 2,324 Crores (Indian Rupees Two Thousand Three Hundred Twenty-Four Crore only), subject to adjustments for cash and debt-like items and other adjustments as agreed under the respective transaction documents.
The team advising the Company was led by Partners - Uday Khare and Aditi Manchanda, with support from Principal Associate - Angira Chakraborty, Associates - Divisha Jindal, Anukriti Bhattad, Kaushik Raichura, Oshin Malpani, Priyam Mahajan, Abhijeet Kashyap, Muskaan Garg, and Lovika Tyagi.
Other parties to the transaction included: EY (Acted as Banker and tax advisor to ABL and ACL).
The transaction was signed on 30th December, 2024.
