CCI Approves Anantam Highways Trust’s Acquisition of Seven Road SPVs

The Competition Commission of India (CCI) has approved the proposed acquisition of seven road project special purpose vehicles (SPVs) by Anantam Highways Trust (InvIT), along with the issuance of units of the InvIT to Build India Infrastructure Fund (BIIF), Dilip Buildcon Ltd. (DBL) and DBL Infraventures Pvt. Ltd. (DIPL).

The transaction involves the acquisition of DAK Package I Expressway Pvt. Ltd., Bethamangala Expressway Pvt. Ltd., Katra Expressway Pvt. Ltd., Raipur-Visakhapatnam-CG-2 Highways Ltd., Bangarupalem Gudipala Highways Ltd., Poondiyankuppam Highways Ltd. and Mehgama-Hansdiha Highways Ltd. by the InvIT.

Anantam Highways Trust is a SEBI-registered Infrastructure Investment Trust (InvIT), while BIIF is a Category II Alternative Investment Fund that invests in debt, equity and other permitted securities. DBL is a listed engineering, procurement and construction (EPC) company with a diversified infrastructure portfolio spanning roads, irrigation, mining, airports, bridges, tunnels and urban development projects. DIPL is a wholly owned subsidiary of DBL engaged in infrastructure construction and development.

The CCI's approval clears the way for the proposed transaction, which is aimed at consolidating operational road assets under the InvIT structure.