Ashoka Buildcon provides update acquisitionASHOKA - 140 Change: -1.15 (-0.81 %)
Ashoka Buildcon's wholly owned subsidiary, Viva Infrastructure, has acquired 49% stake held by India Infrastructure Fund (IIF) in Ashoka Highways (Bhandara) (AHBL). Post-acquisition, Ashoka Concessions (a subsidiary) along with the company and Viva Infrastructure, has become a 100% stakeholder. The deal took place for an aggregate consideration of Rs 36 crore.
The object of the acquisition was to consolidate the road infrastructure business of the company and provide an exit to IIF. The company would later exit the overall asset heavy business of BOT, as informed earlier.