- By PTI
- Thu, 11 Apr 2024 03:58 PM (IST)
- Source:PTI
Edelweiss Alternatives-backed platform Infrastructure Yield Plus strategy has completed the acquisition of L&T Infrastructure Development Projects Ltd (L&TIDPL). The portfolio comprises seven operating roads and one power transmission asset in India, a statement said. Infrastructure Yield Plus strategy has completed the acquisition of a 100 percent stake in L&T Infrastructure Development Projects Limited (L&TIDPL). Larsen & Toubro had 51 percent while Canada Pension Plan Investment Board (CPP Investments) had a 49 percent stake in L&TIDPL.
With this acquisition, the infrastructure platform will scale up to 26 assets, comprising 5,000 lane-km of roads, 1,800 km of power transmission assets, and 813 MWp of renewables with a cumulative annual revenue of Rs 3,000 crore. This acquisition is in line with the infrastructure yield strategy to generate regular distributions for investors by acquiring quality operating infrastructure assets with strong cash flows and unlocking value through active asset management, it stated.
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Edelweiss Alternatives is one of the largest Alternatives platforms in India with assets under management of USD 6.3 billion (over Rs 52,100 crore) as of December 2023.
Sreekumar Chatra, Managing Director - Infrastructure Yield Strategy, Edelweiss Alternatives, said, “This acquisition is a significant milestone for our business. These assets have a proven track record of revenues & operations, which are geographically dispersed and have long residual life."
Also Read: ADB Raises India's GDP Growth Forecast For FY25 to 7%; To Remain Major Growth Engine In APAC Region
Disclaimer: This story has been directly published from the agency feed. No changes have been made.
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