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Deal: Trilegal represents Ontario Teachers’ Pension Plan in securing an unconditional approval from the Competition Commission of India in relation to the proposed acquisition of (a) unitholding in Highways Infrastructure Trust, and (b) equity stake in Highway Concessions One Private Limited

20 Sep 2023

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20 September 2023: Trilegal represented 2452991 Ontario Limited and 2743298 Ontario Limited, both subsidiaries of Ontario Teachers’ Pension Plan (“OTPP”), in securing an unconditional approval from the Competition Commission of India (“CCI”) in relation to the proposed acquisition of (a) unitholding in Highways Infrastructure Trust (“HIT”), and (b) equity stake in Highway Concessions One Private Limited (“HC One”).

This approval is amongst the first set of orders passed by the CCI after two additional members were sworn-in only yesterday, i.e.19 September 2023 and is a testament to the institutional efficiency of the CCI.

OTPP is the largest single-profession pension plan in Canada and is jointly sponsored by the Government of Ontario and Ontario Teachers’ Federation.

HIT is an Indian infrastructure investment trust registered with the Securities Exchange Board of India. HIT owns several road assets and is engaged in the business of operating roads and highways in India. HC One is the investment manager of HIT.

The Trilegal competition team representing OTPP was led by Nisha Kaur Uberoi, Partner & National Head – Competition Law and Gautam Chawla, Partner; and assisted by Radhika Seth, Counsel; Swati Sharma, Senior Associate; Madhav Kapoor, Rishi Kauntia and Akanshha Agrawal, Associates.

AZB represented HIT and HC One.

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Roomi Irani
Mob: +91-22-40791000 |

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