Edelweiss Buys Road Assets from Navayuga
Edelweiss Infrastructure Yield Plus, an alternative investment fund managed by Edelweiss Alternative Asset Advisors Ltd. (EAAA), along with its portfolio company Sekura Roads Ltd, has acquired two annuity road assets from the Navyuga group. The deal size is at $140 million on an enterprise valuation basis. The two road assets are Navayuga Dhola Infra Projects Limited (in Assam) and Navayuga Dibang Infra Projects Private Limited (in Arunachal Pradesh). These assets have been acquired from Navayuga Road Projects Private Ltd, a subsidiary of Navayuga Engineering Company Ltd. Sekura Roads is the road and highway infrastructure platform of the fund, focused on acquiring operating road assets and this is its first acquisition. The Dhola and Dibang roads are of strategic importance because they ensure seamless all-weather connectivity between North East and the rest of India. The Dhola bridge is the country’s longest river bridge, inaugurated by Prime Minister Narendra Modi in 2018, has opened an economic corridor to the states of Assam and Arunachal Pradesh.
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