Tata Realty eyes SBI-Macquarie's road assets as it expands portfolio
17 August 2016
Tata Realty & Infrastructure is in advanced talks with a private equity fund managed by Australia's Macquarie Group and State Bank of India to buy two road assets, more than doubling its investment in three years, says a report in The Economic Times.
The Mumbai-based firm is aiming to build on its infrastructure project portfolio and will invest Rs9,000-10,000 crore over the next few years in light rail urban transport, airports, highways and roads, and ropeway projects, the Mint newspaper reported.
Tata Realty will pick up the road projects that SBI-Macquarie Infrastructure is looking to sell, which include the Farukhnagar-Jadcherla highway in Andhra Pradesh and the Trichy Tollway - a portion of National Highway 45 that connects Chennai and Tiruchirappalli, it purchased in 2013.
A deal on the infrastructure projects, which have a combined enterprise value of Rs1,000-1,200 crore, is expected to be concluded in a few weeks, according to the report.