Macquarie to Sell Transportation Infrastructure Assets to VINCI for Approximately $1.7 Billion

Macquarie Asset Management Sells Safeway Concessions to VINCI Highways for $1.7 Billion

Macquarie Asset Management has announced the sale of Safeway Concessions, a platform that holds nine toll roads, to VINCI Highways at an enterprise value of around Rs 15,000 crore ($1.7 billion). This sale is one of the largest toll road sales in India to date, as stated by the Australian investor on April 7.

Safeway Concessions was established under the National Highways Authority of India's (NHAI) Toll Operate Transfer (TOT) model in 2018. It represents one of the longest-tenured operating road portfolios in the country, marking India's first major toll road privatisation. The platform has a portfolio of nine toll-road concessions located in Andhra Pradesh and Gujarat, totalling nearly 700 kilometres across key national transport corridors.

Macquarie Asset Management, one of the largest foreign investors in India's infrastructure sector, continues to see compelling long-term opportunities across the market. The company manages a substantial portfolio of $477 billion in assets. As part of its strategy, Macquarie Asset Management aims to apply its discipline and operating expertise to invest and scale high-quality infrastructure assets in India.

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Financial Details

The completion of the transaction is subject to customary closing conditions, including approvals from the relevant regulatory authorities. Financial close is expected by the end of 2026. This sale follows Macquarie Asset Management's earlier announcement on July 14, 2025, regarding its plans to sell this portfolio.

Verena Lim, co-head of Asia-Pacific Macquarie Asset Management Infrastructure and Asia CEO for Macquarie Group, expressed pride in building Safeway Concessions into a well-established platform, strengthening governance and safety, and reinforcing the long-term viability of the TOT privatisation model. The sale is expected to serve as a conduit for long-term strategic capital and broader capital market participation over time.

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