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Macquarie may exit from road platform Ashoka Concessions, says report

Macquarie may exit from road platform Ashoka Concessions, says report

Macquarie may exit from road platform Ashoka Concessions, says report
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By CNBC-TV18 May 14, 2019 9:12:42 AM IST (Published)

One of the biggest foreign infrastructure company, Macquarie Infrastructure owned about 34 percent of the platform which owns and operate toll earning road assets for Rs 800 crore, the report said.

Australian infrastructure investor company Macquarie Infrastructure and Real Assets (Mira) will exit its seven-year-old investment in the road platform Ashoka Concessions Ltd, the Mint reported, citing two people aware of the development.

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Macquarie Infrastructure owned about 34 percent of the platform, which owns and operate toll earning road assets for Rs 800 crore, the report said, adding that the remaining stake is held by Ashoka Buildcon.
The company has initiated the process of appointing an investment banker to advise on the stake sale and have already met a select number of bankers, noted the report, adding that it is expected to take a decision soon. The transaction could materialise in a sale of road assets or its stake in Ashoka Concessions, noted Mint.
Ashoka Concession currently operates six BOT (Build, Operate, Transfer) toll projects, one operational BOT annuity project, and seven under-construction hybrid annuity projects (HAM), the report added.
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