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CCI approves acquisition of equity in 11 road SPVs by Epic Concesiones

Published: Mar 26, 2025

By TIOLCorplaws News Service

NEW DELHI, MAR 26, 2025: THE Competition Commission of India has approved the acquisition of 100% equity shareholding in 11 road special purpose vehicles owned by Ashoka Concessions Limited and Ashoka Buildcon Limited by Epic Concesiones 2 Private Limited.

The Proposed Combination envisages acquisition of 100% equity shareholding by Epic Concesiones 2 Private Limited (EC2PL) in road 11 special purpose vehicles (Target SPVs) owned by Ashoka Concessions Limited (ACL) and Ashoka Buildcon Limited (ABL) (Proposed Equity Transaction).

EC2PL is a private limited company engaged in owning and operating infrastructure projects. It is owned by Infrastructure Yield Plus II (IYP II) & Infrastructure Yield Plus IIA (IYP IIA) (collectively IYP), which are both schemes of the Infrastructure Yield Trust, an irrevocable and determinate contributory investment trust under the Indian Trusts Act, 1882 and registered with the SEBI as a Category I - Infrastructure Alternative Investment Fund, under the SEBI (Alternative Investment Funds) Regulations, 2012. The investment manager of IYP II and IYP IIA is EAAA India Alternatives Limited (EIAL) which is an indirect wholly-owned subsidiary of EFSL, the parent entity of EC2PL.

The Target SPVs are eleven road SPVs have been incorporated in India and are engaged in the business of operating (through governmental concessions) roads and highways in India.

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