IL&FS Transport inks new deal

about 4 months ago
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IL&FS Transportation rose over 10.5% to Rs.36.50. Its 52-week high and low stands at Rs.97.35 and Rs.32.60 respectively.

The company has signed an agreement with Ramky Infrastructure Limited ('Ramky') for:

(i) sale of entire equity stake viz. 11,67,50,000 Equity shares of Rs. 10 each representing 50% held in NAM Expressway Limited and

(ii) acquiring 4,20,00,000 Equity shares of Rs. 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 Rs. 43.20 crore based on the valuation obtained from an Independent Valuer and is not a related party transaction.

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