Business

RInfra concludes sale of DA Toll Road


Reliance Infrastructure Ltd. (RInfra) has announced the successful completion of the sale of its 100% stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd. for an enterprise value over ₹3,600 crore.

The deal was announced in March 2019 with the signing of a definitive binding agreement between RInfra and Cube Highways and Infrastructure III Pte. Ltd. and has now been completed with transfer of shares of the DA Toll Road Private Limited and receipt of sale consideration, RInfra said in a statement.

The entire sale proceeds of ₹3600 crore are being utilised for debt reduction, it said.

RInfra has reduced its total debt liabilities by 20% following the deal, it added.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button