January 9, 2019 / 4:31 PM / 7 months ago

India's IL&FS says ITNL roads business attracts strong interest

FILE PHOTO: A bird flies next to the logo of IL&FS (Infrastructure Leasing and Financial Services Ltd.) installed on the facade of a building at its headquarters in Mumbai, India, September 25, 2018. REUTERS/Francis Mascarenhas

MUMBAI (Reuters) - India’s heavily indebted Infrastructure Leasing & Financial Services (IL&FS) said on Wednesday it has received more than 30 expressions of interest for IL&FS Transportation Networks Ltd’s (ITNL) (ILFT.NS) domestic road business.

“Interest has been received from a mix of strategic and financial players,” IL&FS said in a statement.

ITNL is the biggest subsidiary of IL&FS and manages some of the group’s most valuable assets such as road projects.

IL&FS, an infrastructure and finance company which has debts of 910 billion rupees ($12.9 billion), has been trying to sell assets to repay debt after several defaults forced the government to overhaul its management last year.

India’s central bank has asked IL&FS’s lenders to classify loans extended to the company as non-performing, two sources told Reuters on Tuesday.

Reporting by Sankalp Phartiyal; Editing by Susan Fenton

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below