India’s IL&FS says ITNL roads business attracts strong interest By Reuters

© Reuters. FILE PHOTO: A bird flies next to the logo of IL&FS installed on the facade of a building at its headquarters in Mumbai

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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2019-01-09

By: Staff Writer

On: January 9, 2019

In: Hot Stock News

Tagged: attracts, business, ILFS, Indias, interest, ITNL, Reuters, roads, Strong

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