Reliance infrastructure’s sale of Delhi Agra (DA) motorway to Cube Highways and Infrastructure IIIPte Ltd. May be close by the give up of August 2019. Reliance
Infrastructure had signed a binding Share Purchase Agreement with Cube Highways for its one hundred% stake in DA dual carriageway.
Reliance Infrastructure will get hold of Enterprise Value of Rs. 3,six hundred crore along with fairness of up to Rs. 1,seven-hundred crore. Reliance Infrastructure will utilise one hundred% of proceeds handiest for debt reduction.
With this single transaction of DA dual carriageway, debt of Reliance Infrastructure will reduce via over 25% to less than Rs. Five,000 crore.
Reliance Infrastructure has already carried out for Commercial Operations Date (COD) to National Highways Authority of India (NHAI) for the project. DA dual carriageway collection period is until 2038 i.E. In addition 19 years to head.
Cube Highways and Infrastructure III Pte Ltd. Is a Singapore-based company shaped by Global Infrastructure Fund – I Squared Capital and a completely-owned subsidiary of the Abu Dhabi Investment Authority.
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