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IL&FS says ITNL roads business attracts strong interest

Reuters  |  MUMBAI 

(Reuters) - India's heavily indebted (IL&FS) said on Wednesday it has received more than 30 expressions of interest for IL&FS Transportation Networks Ltd's (ITNL) domestic road business.

"Interest has been received from a mix of strategic and financial players," IL&FS said in a statement.

ITNL is the biggest subsidiary of IL&FS and manages some of the group's most valuable assets such as road projects.

IL&FS, an infrastructure and company which has debts of 910 billion rupees ($12.9 billion), has been trying to sell assets to repay debt after several defaults forced the government to overhaul its management last year.

India's central has asked IL&FS's lenders to classify loans extended to the company as non-performing, two sources told on Tuesday.

($1 = 70.3960 Indian rupees)

(Reporting by Sankalp Phartiyal; Editing by Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 22:00 IST