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IL&FS initiates steps for monetisation of its domestic roads vertical
Dec-18-2018

Infrastructure Leasing & Financial Services (IL&FS), acting on behalf of its relevant subsidiaries including IL&FS Transportation Networks (ITNL), has initiated the process of exploring the divestment of the IL&FS Group's equity stake(s)/interest(s) (Stake(s)) in road assets/businesses or an undertaking comprising all the assets/businesses (together the (Domestic Roads Vertical)), in order to ascertain market interest, and to examine feasibility of maximization of value in an orderly and transparent manner.

This includes 7 operating annuity based road projects in various parts of India aggregating approximately 1,774 lane kms;  8 operating toll based road projects in various parts of India aggregating approximately 6,572 lane kms; 4 under construction road projects in various parts of India which would aggregate approximately 1,736 lane kms upon completion; and 3 other assets and businesses, which are EPC & O&M businesses of IL&FS Transportation Networks and a Sports Complex in Thiruvananthapuram.

The proposed sale of Stake(s) held by IL&FS Group In the aforesaid assets / businesses may be carried out as a basket / individually or as an undertaking comprising all offered assets and businesses (Potential Transaction(s)). Accordingly, the IL&FS Board working with the ITNL Board have decided to publicly solicit Expressions of Interest to assess the interest for a sale of its Stake(s) in the Domestic Roads Vertical. The IL&FS Board and the ITNL Board are taking steps in this regard.

IL&FS Transportation Networks (ITNL) is a road development arm of infrastructure development and finance major IL&FS.

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