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KKR To Acquire Seven Highways Assets In India From Global Infrastructure Partners

Global investment firm, KKR & Co. Inc. (KKR) announced Monday the signing of definitive agreements to acquire seven assets in India from Global Infrastructure Partners or GIP. The financial terms of the deal were not disclosed.

Under the agreement, KKR will acquire GIP's entire interest in Highway Concessions One or HC1 and seven highway assets with a total length of 487 kilometers. HC1 is a platform in India that manages GIP's road portfolio which spans across seven states including Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.

KKR made its investment from the KKR Asia Pacific Infrastructure Fund.

With the purchase, KKR expects to strengthen and expand India's national highway network, which serves about 40% of total traffic but accounts for only 2% of the country's road network.

The infrastructure investment is in line with the government's focus on improving connectivity between cities. The National Highways Authority of India is planning to build 60,000 kilometers of highway in the next five years.

EY and Deloitte acted as KKR's advisors while AZB & Partners and Simpson Thacher & Bartlett acted as legal advisors to KKR.

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