Actis to buy $400-million road assets from India's Welspun Group

Actis is nearing a deal to acquire a portfolio of road assets from India’s Welspun Group for about $400 million, according to people familiar with the matter. 

The buyout firm is in advanced talks for the assets and is set to beat out a number of rival bidders, the people said. 

A deal could give the conglomerate’s road portfolio an enterprise value of about $1.2 billion, one of the person said. An agreement could be reached in the coming weeks, the person said. Talks could still fall apart and other bidders could emerge, they said.

Representatives for Actis and Welspun Group declined to comment. Welspun Group  has businesses spanning textiles, pipes, infrastructure and steelmaking and employs more than 26,000 people, according  to its website.