Macquarie Group eyes sale of toll road assets in India: report

The asset management arm of Macquarie Group Ltd. is exploring a sale of toll road assets in India as the Australian company seeks to monetize some of its early bets in Asia’s third-largest economy, according to people familiar with the matter.

Macquarie Asset Management is working with an adviser on the deal, which could raise around $400 million, said one of the people, who asked not to be identified because the information is private. The assets include two toll roads in southern India which the company fully owns and two others it partially owns in the western part of the country, the person said.

Considerations are at an early stage and Macquarie could still decide to hold the asset longer, the sources said. A representative for Macquarie Asset Management declined to comment.

Macquarie Asset Management funds began investing in Indian roads in 2013 as one of the largest investors in the country’s infrastructure assets, according to its website. The company also has two renewable energy investments in the country.

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