CTF Services (HKG:0659) is negotiating with Yuexiu Group for the sale of a number of toll highways worth $2 billion, Bloomberg News reported, citing people familiar with the matter.
The sale is part of CTF's strategic review of its toll road assets to increase its cash flow, improve investor value, and focus on developing businesses, according to Bloomberg.
The company, previously known as NWS Holdings, is also in discussions with other purchasers. The package of roads could be divided into smaller chunks for sale, the report said.
Talks are still in their early stages and the details and valuation could change, according to the report, citing the sources.
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