Macquarie Group considers sale of toll-road assets in India: Report

Macquarie Group Ltd.’s asset management arm is exploring a sale of toll-road assets in India as the Australian company seeks to monetize some of its early bets in Asia’s third largest economy, according to people familiar with the matter.
 

Macquarie Asset Management is working with an adviser on the transaction, which could fetch about $400 million, said one of the people, who asked not to be identified as the information is private. The assets include two toll roads in southern India that the firm fully owns and two others it partially owns in the western part of the country, the person said.

Considerations are at an early stage and Macquarie could still decide to retain the asset for longer, the people said. A representative for Macquarie Asset Management declined to comment.

Macquarie Asset Management’s funds started investing in Indian roads in 2013 as one of the largest investors in the country’s infrastructure assets, according to its website. The firm also has two renewables investments in the nation.