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India: Debt-ridden IL&FS completes stake sale in China road asset


India: Debt-ridden IL&FS completes stake sale in China road asset
Photo: Reuters
April 2, 2021
Debt-ridden Infrastructure Leasing and Financial Services (IL&FS) has completed 49% stake sale in its Chinese road asset – Chongqing Yuhe Expressway Co Ltd (CYEC), the company said on Thursday.
The stake is sold to China Merchants & 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&FS since the sale of its wind energy assets to Orix and will help the group address ₹2,600 crore of its overall debt of close to ₹99,000 crore (as of October 2018). ....

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IL&FS sells stake in Chinese road asset to address Rs 2,600 crore debt


IL&FS sells stake in Chinese road asset to address Rs 2,600 crore debt
IL&FS
In a major step towards resolving its overall debt, IL&FS on Thursday announced completion of its 49 per cent stake sale in Chinese road asset, Chongqing Yuhe Expressway Co Ltd (CYEC), which would help the company to address debt of about Rs 2,600 crore.
It sold the stake to China Merchants & 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&FS since the sale of its wind energy assets to Orix, IL&FS said in a statement. ....

Ping An , Il Fs Transportation Networks Ltd , Supreme Court Justicedk Jain , Equity Investment Fund Tianjin Co Ltd Pingan , International Pte Ltd , Expressway Group , National Company Law Tribunal , Yuhe Expressway Co Ltd , Il Fs Group , Chongqing Yuhe Expressway Co Ltd , China Merchants , Pingan Infrastructure Phase , Investment Fund , Ping An Insurance , Pte Ltd , Chongqing Expressway Group , Networks Ltd , Il Amp Fs , China Merchants Amp Pingan Infrastructure Phase 1 Equity Investment Fund , Chinese Road Asset , Chongqing Yuhe Expressway Co , பிங் ஒரு , நான் L ஃப்ஸ் போக்குவரத்து நெட்வொர்க்குகள் லிமிடெட் , சர்வதேச ட் லிமிடெட் , அதிவேக நெடுஞ்சாலை குழு , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் ,