Khaitan & Co and Shardul Amarchand Mangaldas & Co (SAM) advised on VINCI Highways’ acquisition of Safeway Concessions from Macquarie Asset Management (MAM).

VINCI Highways, a subsidiary of VINCI Concessions, acquired 100% of the Safeway Concessions platform from Macquarie Asia Infrastructure Fund 2, managed by Macquarie Asset Management, for an enterprise value of approximately INR 150 billion.

The platform comprises nine operational toll road assets spanning nearly 700 km across Andhra Pradesh and Gujarat, along with an integrated operations and maintenance entity. The transaction marks one of the largest highways portfolio acquisitions in India. Completion is subject to customary conditions and regulatory approvals.

Khaitan & Co acted as legal counsel to VINCI Highways.

The core team consisted of Partners Aditi Singhvi and Shishir Vayttaden; Senior Associate Suyashi Mishra; Associates Harishankar Raghunath, Sandli Pawar, and Jahnavi Yalavarthi.

On the corporate and commercial aspects, Partner Shishir Vayttaden advised on the transaction. On projects and project finance, Partner Akhil Bhatnagar, along with Counsel Prateek Bhandari, Principal Associate Ishita Gupta, Senior Associate Ashish Jain, and Associates Abhishek Sharma and Shivam Gour, advised. On corporate and commercial, Partners Harsh Khemka and Mehul Shah, supported by Principal Associates Bhagirath Ashiya and Rushabh Gala, Senior Associate Avishek Banerjee, and Associates Ayushi Gupta and Mayank Barman, were involved. On energy, infrastructure and resources, Associate Snigdha Ande assisted. On dispute resolution, Partner Abhisaar Bairagi, along with Principal Associate Milind Sharma and Senior Associate Suhel Qureshi, advised. On funds, Partners Vivek Mimani and Divaspati Singh, supported by Principal Associate Khusboo Agarwal and Associates Athul Kumar and Payal Saraogi, were involved. On capital markets, Partner Aayush Mohata advised. On intellectual property, Partner Nirupam Lodha, along with Senior Associates Gautam Wadhwa and Malika Nandkeolyar, and Associate Palak Dwivedi, assisted. On banking and finance, Partner Manisha Shroff, supported by Principal Associate Mohit Nad, Senior Associate Anushka Sinha, and Associates Gyana Pathak, Priyam Indurkhya, and Satyawati Sinha, advised. On competition/antitrust, Partner Anisha Chand, along with Principal Associate Siddharth Pravin Bagul and Associate Vrinda Bhardwaj, advised. On employment, labour and benefits, Partner Vinay Joy, supported by Senior Associate Simran Sharma and Associates Shaaryl Dsouza and Tanvi Uday Shetty, assisted. On real estate, Partner Sudheer Madamaiah, along with Consultant Nandita Mathihalli, advised. On privacy and data protection, Partner Supratim Chakraborty, supported by Senior Associate Shramana Dwibedi, assisted.

SAM acted as legal counsel to Macquarie Asset Management.

The transaction team was led by Partners Jay Gandhi, Abhishek Parekh, and Jamshed Bhumgara; Senior Associate Akshath Vidyanath; Associates Divya Venkatramani and Arush Mittal.

The Infrastructure, Energy & Project Finance team included Partner Deepto Roy, Principal Associates Shubham Sharma and Disha Adhikary, and Associate Vaibhav Gwalani. The Corporate Due Diligence team comprised Partners Jay Gandhi and Abhishek Parekh, Senior Associate Akshath Vidyanath, Associate Divya Venkatramani, Partner Aditya Malhotra, Principal Associate Meera Menon, and Associate Hardik Baid. The Infrastructure, Energy & Project Finance Due Diligence team included Partner Deepto Roy, Principal Associates Shubham Sharma and Disha Adhikary, Senior Associate Aditya Arora, and Associates Vaibhav Gwalani and Ved More.