Business Standard

IL&FS arm, ITNL International to sell 49% stake in its China road JV

The balance 51 percent is owned by local partner Chongqing Expressway Group

road
Premium

Press Trust of India
ITNL International, a subsidiary of the bankrupt infra lender Infrastructure Leasing & Financial Services (IL&FS) is looking to sell its 49 percent stake in Chongqing Yuhe Expressway Company in China, the company said Friday.

The Singapore-based ITNL International is a wholly- owned subsidiary of IL&FS Transportation Networks.

The balance 51 percent is owned by local partner Chongqing Expressway Group, one of the largest state-owned enterprises in China's Chongqing with USD25 billion in assets.

Chongqing Yuhe Expressway holds a concession for a tolled expressway of around 58.72 km in mainland China, over which it has the right to collect toll.

Around 13.25 years of the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 26 2019 | 11:23 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com