On Friday, Sadbhav Infrastructure Project Ltd (SIPL) said that stake acquisition in Dhule Palesner Tollway Ltd (DPTL) from its JV partners, HCC Concessions (HCON) and JLL has been completed.
According to a BSE filing, “SIPL has completed the acquisition of 60 percent equity stake from JV partner HCON and 11.9 percent equity from John Laing Investments Ltd and John Laing Investments Mauritius (No. 1) Ltd (together as JLL) in Dhule Palesner Tollway Ltd (DPTL).”
It further added that SIPL has paid Rs 142.94 crore to HCON towards one payment and Rs 8.19 crore to JLL as against total book value of Rs 241.52 crore.
“SIPL shall also acquire 27.2 percent equity stake in the Company from its parent company ie Sadbhav Engineering Ltd (SEL) for which purchase consideration is already paid by SIPL to SEL,” said the filing.
It further added that upon completion of the actual transfer of shares, SIPL will be holding 100 percent of the equity shares in DPTL.