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RInfra gets in-principle nod for sale of Delhi-Agra toll road to Cube Highways

The approval paves the way to close the sale of the 180 km six-lane Delhi-Agra toll road

Reliance Infrastructure, NHAI, Cube Highways and Infrastructure, Delhi-Agra, Abu Dhabi Investment Authority, Singapore, Global Infrastructure Fund, I Squared Capital

Reliance Infrastructure (RInfra) has received in-principle nod from the National Highways Authority of India (NHAI) for sale of Delhi-Agra toll road to Cube Highways and Infrastructure. RInfra will receive an enterprise value of Rs 3,600 crore, including equity of up to Rs 1,700 crore.

The approval paves the way to close the sale of the 180 km six-lane Delhi-Agra toll road to Cube Highways and Infrastructure III, which is owned by a Singapore-based Global Infrastructure Fund, I Squared Capital, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.

The entire proceeds will be used by RInfra to pay lenders and reduce the debt of the company.

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June 2020
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