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Mumbai, Mar 19 (UNI) In a niche transaction in the transport sector with a gross valuation of Euro 50 million, Infrastructure Leasing and Financial Services Ltd (IL&FS), announced today that its subsidiary, IL&FS Transportation Networks Ltd (ITNL), had acquired Elsamex SA of Spain.

ITNL was engaged in developing and managing a National and State Highway Network in excess of 3,200 Km spread across nine States in India.

In line with ITNL's position as a leader in the Indian transportation infrastructure industry, this acquisition highlights the increased focus on the O&M space in the sector. The transaction marks another first for ITNL, which has been a trendsetter in the sector, the company said in a release here.

Elsamex was a world leader and specialist in the areas of comprehensive road maintenance, operation and management of road systems and development of toll road support systems with more than 7,000 km under contract today. The Company provides quality control, testing and certification of roads and enjoys high reputation in the European region. Elsamex is a pioneer in developing Bitumen products and has introduced more than 60 new technologies in highways construction and maintenance. It owns 15 patents for different Bitumen products.

Elsamex also has significant operations outside Spain in about 20 countries including the USA, Colombia, Brazil and China.

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