India-based National Investment and Infrastructure Fund (NIIF) and I Squared Capital are considering the acquisition of Ashoka Concessions, a platform that owns and operates six Indian toll-road projects, according to the Sovereign Wealth Fund Institute.
A sale price for the company, which is owned by developer Ashoka Buildcon Ltd. and Macquarie Infrastructure and Real Assets (MIRA), was not disclosed.
The groups purchased a 34 percent stake in Ashoka Concessions for Rs 800 crore ($112 million) in 2012. Ashoka Buildcon holds the remaining stake.
The toll-road projects owned and operated by Ashoka Concessions include the Belgaum-Dharwad, Dhankuni-Kharagpur, Durg Bypass, Chhattisgarh-Maharashtra border, Bhandara Road, Maharashtra-Chhattisgarh border, Jaora-Nayagaon, and Sambalpur-Baragarh highways.
