Infrastructure Leasing and Financial Services (IL&FS) subsidiary, IL&FS Transportation Networks (ITNL), acquired Elsamex SA of Spain for Euro 50 million, reports Economic Times.
The Spanish firm is engaged in road maintenance, operation and management. ITNL is engaged in developing and managing a national and state highway network in excess of 3,200 kms spread across nine states in India.
The acquisition would strengthen ITNL`s position as a leader in the Indian transportation infrastructure industry. ( My Iris)