Nexus Select Trust (NSEI:NXST) executed a share acquisition agreement to acquire Select Infrastructure Private Limited from a group of shareholders on November 16, 2022. As part of consideration, Nexus Select shall issue its units to the sellers. For the year ending 2021, Select Infrastructure generated revenues of INR 1.4 billion.

The consummation of the transaction is subject to receipt of consents from lenders and other third parties and regulatory approvals. The agreement will stand automatically terminated if the closing does not occur on or prior to the long stop date of June 30, 2023. As on February 13, 2023, the transaction was approved by the Competition Commission of India.

Ernst & Young LLP acted as financial advisor to Select Infrastructure.