IL&FS Transportation Networks [ITNL] International Private Limited, a subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS) has commenced the process of selling its 49 per cent stake in a Chinese road asset, as IL&FS moves forward on its asset sale plan to pare debt. ITNL International has invited expressions of interest from potential investors for its stake in Chongqing Yuhe Expressway Company Limited. Chongqing Yuhe holds a concession for a toll-based expressway of about 58.72 km in mainland China. It has the right to collect toll from users and subsidies from the Chinese government. About 13.25 years of the term of the concession remain as of end March 2019. ITNL International has engaged UBS AG to assist in the potential transaction.
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