Responding to media queries, Annat Jain, Managing Partner of Acropolis Capital Group said, “As one of the three founding equity partners in these Joint Venture companies, Acropolis is committed to seeing this issue resolved amicably amongst all parties involved.” He was responding to media reports relating to the recent move by Turner Construction, the US subsidiary of Hochtief AG, to file arbitration proceedings at the International Chamber of Commerce’s in Paris, and Sahara Turner Construction Ltd.’s filing of proceedings at the Company Law Board in Mumbai against Turner Construction’s 50% subsidiary in India (Turner International Consulting) on grounds of mismanagement and violation of exclusivity provisions.
Acropolis has a significant minority shareholding in both of Turner Construction’s Indian subsidiaries. Mr. Jain hoped that a positive outcome was possible saying “There are ways to reconstitute the two Joint Venture Companies in a manner that addresses practical realities, and resolve the problems amicably.”
ABOUT US
Acropolis Capital Group is a Special Situation Investment and Development firm which focuses on investing in Infrastructure and Real Estate businesses in India. Its strategy involves investing / developing at early stages alongside global strategic and financial partners to develop high‐growth businesses.
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