M&A

M&A

Reliance Infra to sell Pune-Satara Toll Road to Cube Highways for Rs.2,000-Cr

Economic Times  

Singapore-based Cube Highways, through Cube Highways and Infrastructure III, is to acquire a 100% stake in Mumbai-based Reliance Infrastructure Ltd’s Pune Satara Toll Road (PSTR) project for an estimated enterprise value of INR 2,000 crore.Through this transaction, Reliance Infrastructure will reduce debt by INR 1,400 crore. It will use INR 600 crore towards growth in core business areas.PS Toll Road Pvt Ltd. was set up to develop, operate, and maintain a 140-kilometre six-lane expressway between Pune and Satara in Maharashtra, along National Highway NH-4 (now NH-48).