Nishith Desai Associates has advised Singapore sovereign wealth fund GIC on its 44-billion-rupee ($622 million) investment in the road and highway assets of IRB Infrastructure Developers, which was counselled by S&R Associates.

This is reportedly the largest investment in the roads and highways sector in India to date. Under the terms of the deal, IRB will transfer nine of its build-operate-transfer (BOT) assets into a private infrastructure investment trust, in which it will hold a 51 percent stake.

A Nishith Desai team led by partner Ruchir Sinha represented GIC.

The S&R team representing IRB was led by partners Sandip Bhagat and Sudip Mahapatra.


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