PNC Infratech jumps 4% on road assets sale buzz moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Grapevine: KKR eyes over $1-bn roads deal; Kedaara looks to sell Spandana Sphoorty vccircle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vccircle.com Daily Mail and Mail on Sunday newspapers.
Several investors, including KKR, CDPQ, Cube Highways, and IRB Infrastructure Developers, have shown interest in acquiring a 361 km-long highway asset under ToT 12 auctions by the National Highways Authority of India (NHAI). The bids for NH26 s Lalitpur-Lakhnadon stretch in Madhya Pradesh have been submitted and await technical evaluations. Meanwhile, the 82 km-long Allahabad Bypass has received only one bid from Cube Highways under the ToT 11 auction.
Private equity firm KKR s Highways Infrastructure Trust is in talks to buy a 12-road project portfolio from construction firm PNC Infratech for an enterprise value of $1.1bn. The deal would see KKR acquire 11 HAM roads and one BOT road located across the Indian states of Uttar Pradesh, Madhya Pradesh and Rajasthan. Seven of the 12 road projects are already operational, while the others are expected to become so within the next three to four months.
According to the co-CEO, the government’s priority should be to expand the middle class..India’s capital markets are making ‘meaningful progress’ in terms of liquidity, says Bae