Macquarie commits $450M to India toll-road platform Maple in buyout
What's the deal? Macquarie Asset Management (MAM)Dealroom has a profile for this one. Try Dealroom → has completed the acquisition of units in Maple Infrastructure TrustDealroom has a profile for this one. Try Dealroom →, an Indian toll-road platform, committing $450 million through its Macquarie Asia-Pacific Infrastructure Fund 4. Maple is owned by global investment group La Caisse, formerly CDPQ.
What changes? MAM and La Caisse will jointly hold controlling stakes in Maple's investment manager and project manager, according to a Macquarie statement.
The terms: Of the $450 million, $150 million is additional equity earmarked for future acquisitions. La Caisse has separately committed $150 million to support the platform's growth.
What's the endgame? Established in 2021, Maple owns and operates seven toll roads across six states in eastern, northern, and southern India under long-term concession frameworks. Its portfolio spans about 3,328 lane kilometres.
Why now? The Competition Commission of India cleared the deal in April, approving MAIF4's purchase of 42.5% of Maple Infra InvITDealroom has a profile for this one. Try Dealroom →, 40% of Maple Project Management, and up to 37.5% of the trust's units.
The signal: "India remains a key market for Macquarie, and Maple reflects our conviction in the country's long-term infrastructure opportunity," said Verena Lim, co-head of Asia-Pacific infrastructure at Macquarie Asset Management. La Caisse's Emmanuel Jaclot called the partnership "a strong vote of confidence" in Maple's growth prospects.
Read more: economictimes.indiatimes.com
Image credit: Generated with Gemini
