Jaypee group, a private sector enterprise and Taj expressway Authority, a public sector enterprise entered into an agreement to construct Yamuna expressway for better connectivity. Name and explain the business enterprises so formed in the above collaboration. State it’s any two features
Answers
Explanation:
Mumbai: Jaypee group is in talks to sell its entire holding in the 165km Yamuna Expressway project, after a year-long effort to sell a partial stake in the asset failed to materialize, two people familiar with the discussions said.
The debt-laden group is in talks with infrastructure-focused funds IDFC Alternatives and I Squared Capital to sell the six-lane toll-based project in Uttar Pradesh that connects Noida with Agra along the Yamuna river, the two people cited above said, requesting anonymity.
Clinching a deal would be critical for the Jaypee group, which is under pressure from its lenders to sell assets quickly to repay debt after it defaulted on payments. Across its three listed companies—Jaiprakash Power Ventures Ltd, Jaiprakash Associates Ltd and Jaypee Infratech Ltd—the group had debt of over ₹ 61,000 crore as on 30 September.
IDFC Alternatives, which had looked at Yamuna Expressway earlier but withdrawn from negotiations as it was not keen on acquiring a partial stake, has come back to the table, said one of the people cited above. The talks, however, are at an early stage, this person said.