Essel in talks to sell toll roads to NIIF

Bloomberg August 6 | Updated on August 06, 2019

Indian tycoon Subhash Chandras 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.

Deliberations are ongoing and may not result in a deal, the people said.

Published on August 06, 2019

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