{"id":408869,"date":"2021-04-03T10:14:26","date_gmt":"2021-04-03T04:44:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=408869"},"modified":"2021-04-03T11:37:23","modified_gmt":"2021-04-03T06:07:23","slug":"ilfs-sells-49-stake-in-chinese-road-asset-cyec","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-sells-49-stake-in-chinese-road-asset-cyec\/","title":{"rendered":"IL&amp;FS sells 49% stake in Chinese road asset CYEC"},"content":{"rendered":"<p>INFRASTRUCTURE LEASING and Financial Services (IL&amp;FS) on Thursday announced the completion of its 49 per cent stake sale in its Chinese road asset Chongqing Yuhe Expressway Co Ltd (CYEC). The stake has been sold to China Merchants &amp; PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants.<\/p>\n<p>This is the largest transaction for IL&amp;FS since the sale of its wind energy assets to Orix.<\/p>\n<p>IL&amp;FS has received Rs 1,035 crore ($141.3 million) in Singapore as part of this stake sale transaction. The consideration will be used to pay $88 million of Bank of Baroda loans and the balance to meet IIPL liabilities \u2014 including bondholders under IOPL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INFRASTRUCTURE LEASING and Financial Services (IL&amp;FS) on Thursday announced the completion of its 49 per cent stake sale in its Chinese road asset Chongqing Yuhe Expressway Co Ltd (CYEC). The stake has been sold to China Merchants &amp; PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants. This is the largest transaction for IL&amp;FS since the sale of its wind energy assets to Orix. IL&amp;FS has received Rs 1,035 crore ($141.3 million) in Singapore as part of this stake sale transaction. The consideration will be used to pay [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-408869","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=408869"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408869\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=408869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=408869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=408869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}