IJM sells 35.6% of Tamil Nadu highway concessionaire for RM60.1m

KUALA LUMPUR: IJM Corporation Bhd is selling a 35.6% stake in Trichy Tollway Private Ltd (TTPL) - the concessionaire for a highway expansion project in Tamil Nadu, India -- for RM60.1mil.

It said on Tuesday its unit IJM Trichy (Mauritius) Ltd's sale of the stake, comprising of 59.30 million shares in Trichy Tollway to Macquarie SBI Infrastructure Investments Pte Limited, would reduce its interest to 13.26%.