IL&FS completes sale, transfer of Moradabad Bareilly Expressway to its InvIT
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The IL&FS group on Saturday said it has completed the sale and transfer of its entire holding in Moradabad Bareilly Expressway to its recently-formed infrastructure investment trust (InvIT) called Roadstar Infra Investment Trust.
This is the first of the many road assets proposed to be acquired by the InvIT in different phases, the company said in a statement.
The final consideration for sale of shares was Rs 576.77 crore and the adjusted final consideration for assignment of receivables was Rs 14.26 crore, the company said.
Following this deal, Moradabad Bareilly Expressway worth around Rs 3,000 crore has ceased to be the subsidiary of the company.
