IL&FS starts process to explore divestment of its interest in road assets

The IL&FS Board along 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 assets under this vertical

IL&FS board has initiated the process to explore divestment of the group’s interest in road assets and business, the group said in a statement on Monday.

“In order to ascertain market interest, and to examine feasibility of maximization of value in an orderly and transparent manner, the IL&FS Board, acting on behalf of its relevant subsidiaries including IL&FS Transportation Networks (ITNL), has today initiated the process of exploring the divestment of the IL&FS Group’s equity stake/interest in road businesses or an undertaking comprising all the assets,” the statement said.

Il&FS has listed seven operating annuity based road projects, eight operating