3 weeks ago

Canada's PSP mulls $1.5 billion sale of roads in India

Canada's PSP mulls $1.5 billion sale of roads in India
Canada’s PSP is said to mull $1.5 billion sale of roads in India · livemint.com

Imagine a giant piggy bank that saves money to help retired workers.

In Canada, a big piggy bank called PSP Investments owns roads in India.

Roads can make money because people pay tolls to drive on them.

Now, the piggy bank is thinking about selling those Indian roads to someone else.

They might get about $1.5 billion for them, which is a huge amount of money.

The piggy bank also owns roads in other countries like Brazil, Mexico, Spain, and the United States.

The roads in India helped the company grow a lot last year.

Some other companies are interested in buying the roads.

But nothing is decided yet because it is still early in the process.

So for now, the roads stay with PSP Investments.

Key facts

Investor
Public Sector Pension Investment Board (PSP Investments), Canada
Reported valuation
$1.5 billion including debt
Asset platform
Roadis, created in 2016
Other Roadis countries
Brazil, Mexico, Spain, United States
Stage of talks
Early-stage; no final decisions made
Adviser
An unnamed adviser is assisting the potential divestment
Buyer interest
Preliminary interest from other investment firms and industry players

Sources

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