I Squared Capital-backed Cube Highways completed the acquisition of KNR Walayar Tollways.

I Squared Capital-backed Cube Highways, a Singapore-based company investing in road and highway projects, completed the acquisition of KNR Walayar Tollways, an operating toll road in the state of Kerala, India, from KNR Constructions, a construction engineering company. Financial terms were not disclosed. "Despite the challenges of the Covid-19 pandemic, both parties worked constructively to restructure the transaction to achieve a win-win outcome for both parties. As a repeat transaction with KNR Group, Cube Highways has once again demonstrated that it is the partner of choice for leading road construction companies and has cemented its position as the preeminent owner-operator of Indian Highways," Gautam Bhandari, Cube Highways Director.