Cube Highways to acquire Delhi-Agra Toll Road from Reliance Infrastructure
Cube Highways and Infrastructure III Pte. Ltd., an affiliate of Cube Highways and a portfolio company of I Squared Capital through its ISQ Global Infrastructure Fund II, has entered into an agreement with Reliance Infrastructure Limited to acquire a 100 percent stake of DA Toll Road Private Limited (DATRPL), a toll road in the state of Haryana/Uttar Pradesh, India. Following the transaction, the Cube Highways group portfolio will have over 4,500 lane-kilometers of highways across India.
DATRPL operates the 180-kilometer, six-lane toll road connecting the national capital, Delhi, with Agra on National Highway (NH) 2. The road is a 26-year concession granted in 2010 for strengthening and widening the four-lane highway to a six-lane configuration and began collecting tolls in October 2012.
The completion of the transaction is contingent upon fulfilment of certain customary regulatory and lender approvals.
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