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IndInfravit, an OMERS Infrastructure managed investment in India, to acquire additional road network
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IndInfravit, an OMERS Infrastructure managed investment in India, to acquire additional road network
(New Delhi, June 10, 2022)
OMERS initially invested in IndInfravit, a road company in India, in February 2019. At the time of the initial investment, IndInfravit had a portfolio of 5 roads. IndInfravit then acquired 8 roads in March 2020 from Sadbhav Engineering. With the financial and strategic backing of OMERS Infrastructure and other partners, the company has today announced that it will acquire Brookfield Asset Management’s portfolio of 5 roads, across 4 states in India, for an enterprise value of USD1.2 billion. Following the close of the transaction, IndInfravit’s portfolio of roads in India will total 18.
Delphine Voeltzel, Managing Director, Asia for OMERS Infrastructure, said of the development: “We are proud to support this further growth of the IndInfravit platform and look forward to working with our fellow unitholders, management and local stakeholders to create additional value for the community and our customers. The acquisition further strengthens IndInfravit’s position as a leading roads platform in India and expands its roads portfolio as well as its geographic footprint. It represents one more example of how OMERS Infrastructure continues building a diverse portfolio of high-quality assets in select locations around the globe, led by strong management teams, and in cooperation with like-minded, long-term partners.”