BRNL, partners exit Ghaziabad-Aligarh Expressway project, sell stake to Cube Highways
Kolkata-based road developer Bharat Road Network Limited (BRNL) and its partners have exited the Ghaziabad-Aligarh toll road project by selling their stake to global infrastructure group I Squared Capital’s Cube Highways, a company statement said.
BRNL held a 39 per cent stake in Ghaziabad-Aligarh Expressway Private Limited — the special purpose vehicle that developed and operated the 126-km toll road on NH-34.
PNC Infra and its associates held a 35 per cent stake and the balance 26 per cent was with Galfar Engineering and its associates.
“BRNL along with its partners has signed an agreement with Cube Highways, a portfolio company of I Squared Capital, for the complete transfer of ownership” in Ghaziabad-Aligarh Expressway Pvt Ltd, the firm said in the statement.
