13 December 2024
Macquarie Plans to Sell $2 Billion Indian Road Portfolio.
Macquarie Infrastructure and Real Assets (MIRA) is preparing to sell its extensive Indian road portfolio, valued at approximately $2 billion. This includes its stake in Ashoka Concessions, which encompasses 15 projects: six operational BOT toll projects, one BOT annuity project, and eight under-construction hybrid annuity projects. The firm, along with Ashoka Buildcon, has engaged EY to manage the sale, with potential buyers being sovereign wealth funds and pension funds due to the large investment size. Macquarie initially invested in this portfolio through a partnership with SBI in 2012, and the sale reflects its broader strategy to exit certain road assets in India.