Cube Highways to buy Delhi-Agra highway from RInfra

Mumbai: Cube Highways and Infrastructure, the Indian roads and highways platform of global infrastructure fund I Squared Capital, on Thursday said that it has agreed to acquire DA Toll Road Pvt. Ltd, which operates a toll road in the states of Haryana and Uttar Pradesh, from Reliance Infrastructure Ltd. The enterprise value of the transaction is around ₹3,600 crore, RInfra said in a statement. The proceeds will be utilized for debt reduction.

On completion of the transaction, the Cube Highways portfolio will have over 4,500 lane-km of highways across India, the statement said. Financial details of the transaction were not disclosed.

Investment bank Ambit Pvt. Ltd acted as financial adviser to Reliance Infra.