IL&FS Inks Pact With Ramkay For Divestment & Acquisition Of Equity Stake In SPVs
IL&FS Transportation Networks Limited has signed definitive agreements with Ramky Infrastructure Limited ("Ramky") for:
(i) Sale of entire equity stake viz. 11,67,50,000 Equity shares of 10 each representing 50% held in NAM Expressway Limited and
(ii) Acquiring 4,20,00,000 Equity shares of 10 each representing 50% held in Jorabat Shillong Expressway Limited (JSEL). JSEL will now be a wholly owned subsidiary of the Company.
The net consideration receivable from the above transaction will be 43.20 Crore based on the valuation obtained from an Independent Valuer and is not a related party transaction