PNC Infratech has entered into a share purchase agreement with Cube Highways and Infrastructure for sale of its entire stake i.e. 2,93,24,000 equity shares, representing 15.12% of the total shareholding in Ghaziabad Aligarh Expressway, an associate of the Company.
The enterprise value of the project is Rs 1,834 crore, however the equity value of the proposed transaction is subject to adjustments of debt and other capital and operational costs at closing date and hence net consideration receivable is not ascertainable at this stage.
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
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