CCI Approves Acquisition of 100% Shareholding in 10 Road Asset SPVs by Concessoc 41 SAS

The Competition Commission of India (CCI) has approved the proposed acquisition of 100% shareholding in Vishavari Tollway Private Limited (VTPL) and nine special purpose vehicles (SPVs) operating road assets in India by Concessoc 41 SAS.

The proposed combination involves the acquisition of the entire shareholding in Siddhantham Tollway Private Limited, Diwantham Tollway Private Limited, Diwancheruvu Tollway Private Limited, Ankapalli Tollway Private Limited, Icchapuram Tollway Private Limited, Puintola Tollway Private Limited, Bamanbore Tollway Private Limited, Garamore Tollway Private Limited and Porbandar Jetpur Tollway Private Limited, collectively referred to as the Target SPVs.

The acquisition also covers VTPL. The Targets are currently held by MAIF 2 Investments India 2 Pte. Ltd. and MAIF 2 Investments India 3 Pte. Ltd.

Acquirer and Target Businesses

Concessoc 41 SAS is incorporated under the laws of France and is ultimately controlled by VINCI S.A. through VINCI Highways and VINCI Concessions. VINCI S.A. has operations in more than 120 countries and is engaged in concessions, energy and construction.

The Target SPVs operate specific stretches of national highways in Andhra Pradesh, Odisha and Gujarat.

VTPL provides operation and maintenance services, as well as engineering, procurement and construction services, for the highway assets operated by the Target SPVs.