IL&FS to sell Chinese road asset for Rs 2074 crore
Mumbai: Troubled infrastructure financier Infrastructure Leasing and Financial Services will sell its Chinese road asset for nearly Rs 2074 crore to PingAn Insurance (Group) Company of China, two people familiar with the development said. This sale will help resolve debt worth Rs 2500 crore.
The group has also received approval from Supreme Court Justice (Retd) D K Jain to sell its Chinese JV Road Asset – Chongqing Yuhe Expressway Co Ltd (CYEC) – to PingAn. PingAn Group is amongst the largest financial services companies in the world.
