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Desai D, Bharucha, Wadia G sell Indo-Malaysian stake in Trichy Tollway to SBI Macquaries

Desai & Diwanji advised Mumbai-based infrastructure company Shapoorji Pallonji Group as Bharucha & Partners advised Malaysia-based IJM Corporation in jointly selling 74 per cent equity in their Tamil Nadu highway expansion project concessionaire Trichy Tollway (TTPL) to Macquarie SBI Infrastructure Investments (MSIF) and SBI Macquarie Infrastructure Trustee (SMIT). MSIF and SIMT were advised by Wadia Ghandy.

Desai & Diwanji Mumbai partners Apurva Diwanji and Ketaki Gor Mehta assisted by associate Prakriti Jaiswal acted for Shapoorji Pallonji.

Bharucha & Partners’ Mumbai partner Alka Bharucha, of counsel Shraddha Mor Agrawal and associate Shrikar AJ acted for IJM Corporation which according to The Star sold 35.6 per cent stake in TTPL.

Wadia Ghandy Bangalore partner Ankit Majmudar, Mumbai partner Vijay Sureka and associate Sheetal Ramdas acted for MSIF and SIMT.

MSIF and SMIT now jointly hold 74 per cent in TTPL while Shapoorji and IJM hold around 13 per cent each.

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