Global private equity giant KKR, Edelweiss platform Sekura, road and infrastructure operator Shrem InvIT and infrastructure investor I Squared Capital-backed Cube Highways are in race to buy a portfolio of 11 hybrid annuity model road projects of a subsidiary of Ashoka Buildcon, The Economic Times reported, citing two people aware of the matter.
The portfolio held by Ashoka Concessions is expected to fetch an enterprise value of close to ₹5,500 crore with an equity value of up to ₹1,300 crore, said one of the above mentioned person. EY is advising Ashoka Buildcon on the sale process.
Apollo Global Management
Apollo Global Management Inc is looking to hire a chief for its credit team in India. The private equity firm expects its debt market will grow as companies look for new funding avenues, The Economic Times reported.
Apollo is prioritizing joint ventures with partner firms, as it’s done in other markets such as Australia and South Korea, and has built a lending origination platform for Asia Pacific, according to Matthew Michelini, who heads the business in the region.
Max Healthcare has emerged as the frontrunner to buy Care Hospitals from private equity firm TPG, following a year of negotiations for the sale of the hospital chain, The Economic Times reported, citing people close to the development.
As per the terms of the agreement, Abhay Soi-led Max has already given a firm offer to TPG within the stipulated six-week window for a buyout, said people in the know. The Max offer--a structured agreement with an option on the Bangladesh assets--could see Care Hospitals’ valuation at Rs 5,500-6,500 crore, said the people mentioned above.