Macquarie Group and an investment trust backed by the Canada Pension Plan Investment Board are among the short-listed bidders to buy road assets from India’s quasi-sovereign infrastructure fund, according to people with knowledge of the matter.

The deal could be worth about $US300 million to $US500 million ($772 million), the people said, asking not to be identified, as the details aren’t public. The assets, with an enterprise value of $US1 billion, are part of the National Investment & Infrastructure Fund’s roads platform known as Athaang Infrastructure, they said. Athaang’s portfolio consists of five stretches of highways, including toll roads, running a combined 230 kilometres across India, according to the firm’s website.

Bloomberg