Reliance Infrastructure Ltd on Thursday said it would sell its entire stake in Delhi-Agra Toll Roadway to Singapore-based Cube Highways for Rs 3,600 crore, following which the Anil Ambani led company’s debt will be reduced by 25 per cent to less than Rs 5,000 crore. Reliance Infrastructure (RInfra) has entered into a pact with Cube Highways in this regard.
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. The transaction is in line with Reliance Infrastructure’s strategic plan of monetising non-core business and focus on major growth areas like engineering & construction (E&C) business.
