Link Legal represented GMR Infrastructure and GMR Highways in divestment of their 51% stake in GMR OSE Hungund Hospet Highways Private Limited, a SPV which owns and operates a section of toll road on a 99 km stretch on NH-13 in the State of Karnataka.
The total sale consideration (Confidential) is payable in two tranches. Under the first tranche, Oriental has acquired 14.99% equity stake in the SPV and will further acquire additional 36.01% equity stake in the second tranche post the approvals from NHAI and lenders.
GMR entities were represented by Link Legal India Law Services through its Partner Manish Gupta, Senior Associate Nupur Nadir and Associate Ashish Ahluwalia.
Oriental Structural Engineers Private Limited was represented by Shardul Amarchand Mangaldas & Co., New Delhi.
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