Goldman Sachs Group is reportedly in an advanced stage of negotiations to divest its majority stake in Mexican private tollroad operator Red de Carreteras de Occidente (RCO).

RCO oversees 11 highways, which span nearly 877km. Its roads link Mexico’s industrial corridor El Bajio with Mexico City and Guadalajara.

Citing undisclosed sources familiar with the development, BloombergQuint reported that the American investment bank is holding talks with Abertis Infraestructuras and GIC.

Abertis is a tollroad manager in Spain, while GIC is a sovereign wealth fund of the Government of Singapore.

Goldman Sachs, which owns the stake through funds managed by its infrastructure-investing wing, is looking to sell approximately 70% of the stake.

The deal is expected to value RCO at nearly Mex$65bn ($3.3bn).

According to the tollroad operator’s website, it made a cash distribution of Mex$7bn to shareholders last month.

A consortium, which consists of alternative asset manager Blackstone Group and airport operator Grupo Aeroportuario del Pacífico SAB de CV, has also expressed interest. However, the offer is subject to regulatory approvals on tariff rates.

China Merchants Bank is another bidder in the fray.

Goldman is yet to make a decision and may also decide to retail the asset or sell it to other bidders.

Goldman first invested in RCO in 2007. In 2013, it bought an additional 18.7% stake in the toll road network from Empresas ICA for Mex$5.07bn.