CCI Clears Epic Concesiones' Acquisition Of Road Assets

The Competition Commission of India on Tuesday approved Epic Concesiones 2 Pvt.'s acquisition of 11 road special purpose vehicles from Ashoka Concessions Ltd. and Ashoka Buildcon Ltd.

According to the fair trade regulator, Epic Concesiones 2 will acquire full ownership of these road SPVs, which are engaged in operating highways in India under government concessions.

Epic Concesiones 2, which owns and operates infrastructure projects, is backed by Infrastructure Yield Plus II (IYP II) and Infrastructure Yield Plus IIA (IYP IIA), both registered as Infrastructure Alternative Investment Funds with the Securities and Exchange Board of India. The investment manager of these funds is EAAA India Alternatives Ltd., formerly known as Edelweiss Alternative Asset Advisors Ltd., a wholly owned subsidiary of Edelweiss Financial Services Ltd.

Separately, the CCI also approved a transaction involving Maple Infrastructure Trust, CDPQ Infrastructures Asia III Inc, Maple Highways Pte Ltd., 360 ONE Private Equity Fund, and certain road assets of the Ashoka Buildcon group.

MIT is a SEBI-registered infrastructure investment trust that owns and operates road assets in India through its SPVs. Its investment manager is Maple IM. CDPQ Asia, a wholly owned subsidiary of Caisse de dépôt et placement du Québec, is also part of the deal. Meanwhile, 360 ONE Private Equity Fund, managed by 360 ONE Alternates Asset Management Ltd., is a SEBI-registered alternative investment fund.

In another decision on Tuesday, the regulator cleared the acquisition of Athaang Devanahalli Tollway Pvt Ltd., Athaang Jammu Udhampur Highway Pvt Ltd., and Quazigund Expressway Pvt Ltd. by Cube Highways Trust and Cube Highways and Infrastructure V Pte Ltd.

Cube Highways Trust, a SEBI-registered InvIT, operates and maintains multiple road and highway projects across India. Cube Highways and Infrastructure V, a foreign portfolio investor registered with SEBI, focuses on acquiring and managing road assets in the country.

Transactions exceeding a specified threshold require CCI approval, ensuring compliance with fair competition practices across sectors.

(With text inputs from PTI)