India, Oct. 3 -- Ashoka Buildcon on Thursday announced that it has acquired a majority stake in Jaora Nayagaon Toll Road Company Pvt. Ltd. (JTCL) for Rs 166 crore.
In a regulatory filing, the company said the acquisition was completed through its subsidiary, Viva Highways Ltd., under a securities purchase agreement with Macquarie SBI Infrastructure Investments Pte. Ltd. and SBI Macquarie Infrastructure Trust.
As part of the deal, Viva Highways acquired 7.46 crore equity shares of Rs 10 each, previously held by the investors, for a total consideration of Rs 166.6 crore.
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