Mumbai: Canadian pension funds CPPIB and CDPQ, and the Piramal Group have entered the final round of bidding to acquire Highway Concessions One (HC1), the roads portfolio of infrastructure fund manager Global Infrastructure Partners (GIP), two people aware of the development said. Mint had first reported in December 2018 that GIP had appointed Citibank Inc. to scout for a buyer for its road assets.
“The sale of the HC1 portfolio has progressed to the second round of bidding with just four suitors left in the fray. Canadian pension funds CPPIB and CDPQ are competing with Italian roads operator Atlantia as well as the Piramal Group, which is looking to acquire the assets for its new roads platform,” said the first of the two persons cited above, both of whom spoke under condition of anonymity.
