MUMBAI (Reuters) – India’s heavily indebted Infrastructure Leasing & Financial Services (IL&FS) said on Wednesday it has received more than 30 expressions of interest for IL&FS Transportation Networks Ltd’s (ITNL) (NS:) 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 finance 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 bank has asked IL&FS’s lenders to classify loans extended to the company as non-performing, two sources told Reuters on Tuesday.
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