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Link Legal, UU Argus drive $35m GMR equity to IDFC

Link Legal advised GMR whose road development arm GMR Highways sold 74 per cent stake in its special purpose vehicle GMR Ulundurpet Expressways to IDFC's India Infrastructure Fund for Rs 222 crore ($35m). IDFC was advised by Argus Partners.

Link Legal Delhi partners Anand Srivastava and Venkat Satyanarayana, senior associate Milind Jha and associate Namita Das acted for GMR for which this is the second major divestment in less than six months, according to Mint.

Udwadia Udeshi & Argus Partners managing partner Krishnava Dutt, senior associate Shubha Karra and associate Nirali Sanghvi acted for IDFC whose India Infrastructure Fund is managed by the alternate asset management arm of IDFC, according to VC Circle.

GMR Ulunderpet operates the highway stretch of 73 km from Tindivanam to Ulundurpet on National Highway-45 in Tamil Nadu.

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