Cube Highways InvIT buys 2 road assets in Kashmir from NIIF for Rs.4,184-Cr

New Delhi-headquartered Cube Highways Trust , the infrastructure investment trust (InvIT) managed by Cube Highways Fund Advisors, has acquired 100% stake in two road assets - Qazigund Expressway Pvt Ltd and Jammu Udhampur (JU) Highway Pvt Ltd - in Jammu & Kashmir from the government-owned National Investment and Infrastructure Fund (NIIF). The acquisition was made at an enterprise value of INR 4,184 crore.Qazigund and JU cumulatively span a distance of around 80 kms. Both assets are fully operational availability-based concessions with an outstanding life of six and a half years.Cube InvIT operates 25 road assets with an aggregate length of 1,940 kms spread across 12 states.