Naresh Chandra-controlled Essel Infra Projects has agreed to acquire two road projects from a joint venture between Hyderabad-based KNR ConstructionsBSE -1.10 % and Patel EngineeringBSE -3.16 % for an enterprise value of Rs 850 crore. Both the assets are operational annuity based Build-Operate-Transfer (BOT) assets awarded by Ntional Highways Authority of India. The transaction is subject to certain conditions precedent including lenders and NHAI approvals and is expected to close

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