Deals
Essel in Talks to Sell Toll Roads to India Sovereign Fund
- The sale could fetch around $350 million for Essel Group
- The parties expect to reach an agreement as soon as September
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Indian tycoon Subhash Chandra’s Essel Group is in advanced talks to sell some toll road projects to an arm of the country’s sovereign wealth fund for about $350 million, according to people familiar with the matter.
The assets that National Investment & Infrastructure Fund is planning to buy are four toll roads that are in operations and two in construction, said the people, who asked not to be identified because the discussions are private. The parties expect to reach an agreement as soon as September, the people said.