Key Points
CCI approves Cube's acquisition for road assets
Cube Highways enhances infrastructure operations in India
Road projects part of governmental concessions
The proposed combination envisages acquisition of 100 per cent shareholding of Athaang Devanahalli Tollway Private Limited (ADTPL) by Cube Highways and Infrastructure V Pte. Ltd. (Cube V); and acquisition of 100 per cent shareholding of Athaang Jammu Udhampur Highway Private Limited (AJUHPL) and Quazigund Expressway Private Limited (QEPL) by Cube Highways Trust (Cube Trust).
The release said the Cube Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India (SEBI) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (as amended). The road assets/ SPVs of Cube Trust are engaged, inter alia, in the operation and maintenance (O&M) of various road and highway projects in India.
Cube V is registered as a foreign portfolio investor with the SEBI and acquires, operates and manages road assets in India.
ADTPL, AJUHPL and QEPL have been incorporated in India as special purpose vehicles and are engaged in the business of operating (through governmental concessions) roads and highways in India, the release said.
