Sadbhav Infrastructure Project signs share purchase agreement with HCC Concessions
Sadbhav Engineering (SEL) announced that Sadbhav Infrastructure Project (SIPL) has signed definitive Share Purchase Agreement for acquisition of 60% equity stake from HCC Concessions, a group company of Hindustan Construction Company in Dhule Palesnar Tollway. Post completion of the acquisition from HCC Group and transfer of holding by SEL to SIPL, SIPL will become 100% owner of Dhule Palesnar Tollway. The purchase consideration for the acquisition will be Rs 203.97 crore. Further, upon simultaneously getting outstanding dues from HCC Group, net cash flow to Sadbhav Group will be Rs 130.44 crore.Powered by Capital Market - Live News
