Investment firm KKR and the Ontario Teachers’ Pension Plan Board have signed agreements under which Ontario Teachers’ will invest up to $175 million (CAD$220 million) in KKR’s road platform in India, which includes Highway Concessions One, said KKR in a statement.
The road platform includes a portfolio of 12 road assets, including six to be acquired under the signed definitive agreements, it said.
This includes a diverse mix of toll and annuity roads totaling more than 910 kilometers across 11 states including Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Rajasthan, Tamil Nadu, Telangana and West Bengal, it added .
“The platform has significant scaling potential and there are plans to acquire additional assets in the future,” it said.
The transaction is expected to close in the third quarter of 2022, subject to regulatory approvals and closing conditions.
