MUMBAI, March 15 -- Cube Highways and Infrastructure, the Indian roads and highways platform of global infrastructure fund I Squared Capital, on Thursday said that it has agreed to acquire DA Toll Road Pvt. Ltd, which operates a toll road in the states of Haryana and Uttar Pradesh, from Reliance Infrastructure Ltd.
The enterprise value of the transaction is around Rs 3,600 crore, Reliance Infra said in a statement. The proceeds will be utilized for debt reduction.
On completion of the transaction, the Cube Highways portfolio will have over 4,500 lane-km of highways across India, the statement said. Financial details of the transaction were not disclosed.
Investment bank Ambit Pvt. Ltd acted as financial adviser to Reliance Infra. DA Toll...