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Announced

Cube Highways acquired Delhi-Agra toll road from Reliance Infrastructure for $519m.

Financials

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Transaction Value£393m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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toll road

Acquisition

India

Pending

toll road operator

Private

Toll Roads

Single Bidder

Friendly

Majority

Private Equity

Synopsis

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Cube Highways acquired special purpose vehicle of Reliance Infrastructure in northern India, which is holding and operating the toll road for an enterprise value of 36.09bn rupees ($519m). This will help the Reliance Infrastructures to reduce its debt by 25%. The decision is in line with the company’s strategy to monetise non-core business and aim to be debt-free by the end of the financial year.

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