Close to a dozen suitors have shown interest to acquire Peak Infrastructure, the Indian road platform of Brookfield Asset Management Inc. (TSX:BAM.A), said multiple people aware of the development. About 12 non-disclosure agreements were signed with the interested parties and the bids will be in by December end, said one of the sources. KPMG is advising Brookfield on the sale process. The deal size may range between $1.2-1.5 billion (INR 110 billion) of enterprise value, said the sources. The names of the potential buyers include KKR & Co. Inc. (NYSE:KKR), National Investment and Infrastructure Fund Limited (NIIF), Adani Enterprises Limited (BSE:512599),
Cube Highways and Infrastructure III Pte. Ltd., Macquarie Group Limited (ASX:MQG), Actis, CPP Investments Limited and CDPQ India Private Limited as well as IRB Infrastructure Developers Limited and Edelweiss Infrastructure. Vinci Concessions, which has been looking to reenter India, may also bid for the assets, said one of the said sources. CPP Investments will bid through Indinfravit Trust (BSE:541300), the infrastructure investment trust (InvIT) owned by CPP Investments and L&T Infrastructure Development Projects. The Canadian asset manager will sell Peak Infrastructure, whose road platform in India consists of five road assets, and the mandate will be given in a week, ET first reported in September. Spokespersons with Brookfield, CPPIB, CDPQ, KKR, NIIF and Edelweiss declined to comment, while mails sent to Macquarie, Cube Highways, Vinci, Adani, Actis did not elicit any responses.