 "Reliance Infra completes Delhi-Agra toll road sale to Cube for Rs 3,600 cr")
Reliance Infra on Friday announced completion of sale of its Delhi-Agra (DA) toll road to Cube Highways and Infrastructure for Rs 3,600 crore.
In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100 per cent stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value overRs 3,600 crore.
The deal was announced in March 2019 with the signing of a definitive bindingagreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd.
Reliance Infra said the entire sale proceedsare being utilised for debt reduction.
Reliance Infra has reduced its total debt liabilities by 20 per cent from the dealproceeds from Rs 17,500 crore to Rs 14,000 crore.
Shares of Reliance Infrastructure Ltd were trading 4.84 per cent higher at Rs 28.15 apiece on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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