IL&FS says ITNL roads business attracts strong interest
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) 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. ($1 = 70.3960 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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