Cube Highways Trust completed the acquisition of Quazigund expressway and Athaang Jammu Udhampur highway of National Investment and Infrastructure Fund for INR41.85bn.

Cube Highways Trust, a Singapore-based company investing in road and highway projects, completed the acquisition of Quazigund expressway and Athaang Jammu Udhampur highway of National Investment and Infrastructure Fund, a sovereign investment fund, for INR41.85bn. "We are pleased to collaborate with NIIF on this important transaction. Today's acquisition will add to the high-quality, pan-India portfolio and enhance the Trust’s exposure to fixed-revenue annuity assets that are unaffected by traffic risks and economic cycles. It also showcases Cube InvIT’s disciplined capital allocation strategy and prudent use of its balance sheet for acquiring de-risked assets with strong fundamentals This transaction is expected to be accretive to net distributable cash flows by ~INR 2.3 per unit annually, on average, over the next five years," Vinay C. Sekar, Cube InvIT CEO.