KKR unit to acquire IL&FS' stake in Bangalore Elevated Tollway

Global investment firm KKR, through an affiliate entity, is set to acquire crisis-hit IL&FS' stake in Bangalore Elevated Tollway Pvt Ltd (BETPL). Galaxy Investments, a wholly-owned subsidiary of KKR Asia Pacific Infrastructure Holdings, has entered into a definitive agreement with UK's development finance institution CDC's India Infrastructure Fund II to acquire a stake in the company.