Brookfield, the world's 2nd biggest manager of alternative assets like real estate and private equity from Canada, is closing in to make its second big buyout in the Indian toll roads and highways sector.
They would soon take over the entire portfolio of 11 road projects of Anil Ambani flagship Reliance Infrastructure for an enterprise value of Rs 8000 crore, said sources. Both sides have entered into exclusive negotiations and are hoping to sign a definitive sale agreement by next month.
Last August, Brookfield agreed to buy six road projects of Gammon Infrastructure for an enterprise value of Rs 2000 crore. It is today the sole foreign player to own 100 per cent of road assets portfolio in India.
Reliance is among the largest NHAI concessionaire with concession periods ranging from 18-30 years. All its 11 roads - located in high traffic urban corridors including New Delhi, Bangalore, Jaipur, Agra, Gurgaon, Pune among others - currently generate revenues.