India’s IndInfravit Trust said on Friday it would acquire five operational road projects from companies owned by Brookfield Asset Management’s funds in a deal valued at about $1.2 billion, including debt, as it seeks to expand its road portfolio.
IndInfravit’s unit holders include Allianz insurance companies represented by Allianz Capital Partners, Canada Pension Plan Investment Board and OMERS Infrastructure.
The Indian government plans to step up spending in the current fiscal year to build public infrastructure and drive economic growth, which will be a boon for infrastructure companies.
Read more: Reuters
