Allcargo Logistics is planning to bid for state-run Concor’s stake and is in advanced discussions with a few global private equity firms to partner up for the purchase.
“Concor’s business is a natural fit for us,” Allcargo chairman Shashi Kiran Shetty told The Economic Times.
Gateway Distriparks is also open to bidding for Concor, chairman Prem Kishan Dass Gupta had said recently.
Also, the aviation ministry is preparing to sell stakes in companies that operate airports in Delhi, Mumbai, Bengaluru and Hyderabad, sources told The Economic Times.
The government, through the Airports Authority of India (AAI), owns 26% each in Delhi and Mumbai airports, and 13% each in Bengaluru and Hyderabad airports.
Sources added that the promoters of these airport companies have the right of first refusal in these projects. GMR Group is the promoter for Delhi and Hyderabad airports and Adani Group is the new owner of the Mumbai airport. Fairfax Group is the promoter of Bangalore International Airport Ltd (BIAL).
Separately, National Investment and Infrastructure Fund (NIIF) is looking to acquire three operational road assets of highway developer Ashoka Concession, people told The Economic Times.
The assets could have an enterprise value of up to Rs 3,500 crore (about $480 million). The three operational annuity projects are Ashoka Kharar Ludhiana Road in Punjab, GVR Ashoka Chennai Outer Ring Road in Tamil Nadu, and Ashoka Ranastalam Anadapuram Road in Andhra Pradesh.
