Et voila Canadian Pension Fund Will Acquire Five India Toll Road Concessions
The Economic Times reports, Quebec-based pension fund manager CDPQ is prepared to sign an agreement to acquire five build-operate-transfer toll road assets of Ashoka Concessions, a subsidiary of Ashoka Buildcon LTD. All the facilities “have an average tolling track record of 10 years with established traffic density” and report recent revenue increases. Ashoka Concessions is owned by its parent company and SBI Macquarie. The deal has a reported enterprise value of INR 4,500 crore (approximately USD 535.3 million), acccording to unnamed sources.
Ashoka Concessions is owned by its parent and SBI Macquarie. Spokespersons for CDPQ and Macquarie declined to comment. Ashoka Buildcon did not respond to a comment request.