Reliance Infrastructure (Rel Infra), an Anil Ambani group firm, is selling its entire stake in the Delhi-Agra Toll Roadway to Singapore-based Cube Highways for Rs 3,600 crore. The transaction is expected to bring down its debt by 25 per cent to less than Rs 5,000 crore.
Rel Infra on Thursday announced that it had signed a definitive binding agreement with Cube Highways and Infrastructure III Pte Ltd for the sale of its 100 per cent stake in Delhi-Agra (DA) Toll Road Pvt Ltd.
Cube Highways and Infrastructure III Pte Ltd is a Singapore-based company formed by global infrastructure fund I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.
