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NIIF, KKR, Adani in race for Brookfield's India road business Peak Infrastructure

Economic Times  

A dozen suitors have shown interest in acquiring Peak Infrastructure, the Indian road platform of Brookfield Asset Management. KPMG is advising Brookfield on the sale process. The deal size may range between USD 1.2-1.5 billion (INR 11,000 crore) of enterprise value. Bidders include KKR, National Investment and Infrastructure Fund (NIIF), Adani Group, Cube Highways, Macquarie, Actis, Canadian funds - CPP Investments and CDPQ, IRB Infrastructure and Edelweiss Infrastructure. French infrastructure major Vinci Concessions, which has been looking for a re-entry in India, may also bid for the assets. Established in 2015, Peak Infrastructure consists of five roads which are under long-term concession agreements with the National Highway Authority of India (NHAI) such as Mumbai Nashik Expressway, Simhapuri Expressway, Rayalseema Expressway, Gorakhpur Infrastructure Company and Kosi Bridge Infrastructure Company. Peak Infra was set up after its acquisition of road assets from Gammon India. It includes 2,427 lane km of national highways and 103 toll booth operations that serve over 1.2 lakh vehicles each day.