Three bidders in race to acquire RInfra road projects for Rs 6,000 crore
Anil Ambani (Photo: Bloomberg)
Three bidders are in the race to acquire eight road projects of Reliance Infrastructure (RInfra), an Anil Ambani company, at an enterprise valuation of Rs 6,000 crore.
Bankers said the talks are at an advanced stage with Macquarie Group, Cube Highways and Kotak Alternate Asset Managers and the sale of the entire road portfolio of RInfra is expected by this month end.
If the talks are successful, the transaction will result in RInfra’s consolidated debt coming down by over 40 per cent from Rs 14,500 crore as of March to around Rs 8,500 crore.
The projects for sale are: 88.27 km Trichy-Dindigul road, 136.36 km road between Salem and Ulundurpet, 66.18 km Gurgaon-Faridabad road, 79.95 km Trichy-Karur, 54 k...