Cube, Actis, KKR, Sekura in race to buy nine Macquarie road projects

Transaction to cost up to $1 bn; valuation muted due to tightening of interest rates, says banker

A host of private equity and infrastructure investment firms are in the race to buy nine highway projects put on the block by Sydney-based Macquarie Group.

Cube Highways, Sekura Infrastructure Fund of Edelweiss Group, and private equity firms Actis and KKR have expressed their initial interest in buying the projects, which could cost as much as $1 billion.

The 680-km projects are in Andhra Pradesh and Gujarat, said a banker. “The talks are in the preliminary stage, and Macquarie is in talks with potential buyers,” said the banker. “Due to tightening interest rates in India and the slowdown in traffic