Essel in talks to sell six road assets to NIIF

The Essel Group-owned Essel Infraprojects is in advanced talks to sell six road projects to the National Infrastructure and Investment Fund (NIIF), two people aware of the development told BusinessLine.

For the Subhash Chandra-promoted Essel Group, this move will come as a big relief as it tries to reduce its massive debt load, which is currently at about ₹7,000 crore.

The group is looking at selling its non-media assets to reduce its debt and to ensure it does not lose control over its crown jewel, Zee Entertainment.

Essel Infraprojects has already sold three of its road projects to Caisse de dépôt et placement du Québec (CDPQ), Canada’s second-largest fund manager, in a deal valued at about ₹3,500 crore.