RInfra raises Rs 3600 cr via sale of subsidiary to Cube Highways and Infrastructure III
Uses sale proceeds to reduce debt by 20% Reliance Infrastructure announced that Delhi-Agra (DA) Toll Road has ceased to be the subsidiary of the Company from 31 December 2020 on account of transfer of 100% shares held by the Company to Cube Highways and Infrastructure III for an enterprise value over Rs 3600 crore. The deal was announced in March 2019 with the signing of a definitive binding agreement between RInfra and Cube Highways and Infrastructure III and has now been completed with transfer of shares of the DA Toll Road and receipt of sale consideration. Cube Highways and Infrastructur...
Source: business-standard.com