+
Cube Nears Rs 40 Billion Deal for Athaang Road Assets
ROADS & HIGHWAYS

Cube Nears Rs 40 Billion Deal for Athaang Road Assets

Cube Highways, one of India?s largest private sector toll road operators, is likely to acquire the road assets of National Investment and Infrastructure Fund?s (NIIF) Athaang Infrastructure, according to two informed sources. The deal is projected to have an equity value of approximately Rs 40 billion.

Canada Pension Plan Investment Board (CPPIB), the other finalist, also submitted a binding bid for the deal managed by JP Morgan. Cube Highways is expected to be granted exclusivity to finalize the acquisition of a portfolio consisting of five road assets totalling 230 km.

Earlier reports from Mint had indicated that CPPIB and Cube Highways were the final contenders and were anticipated to submit their final binding bids.

One of the sources noted that both Cube Highways and CPPIB had made binding bids, and Cube Highways had emerged as the leading candidate. The intention is now to provide Cube Highways with exclusivity to conclude the transaction.

Approximately ten global and domestic infrastructure funds, including CPPIB, KKR, Spain?s Abertis, France?s Vinci Highways, Edelweiss? Sekura Roads, and Caisse de d?p?t et placement du Qu?bec (CDPQ), have signed non-disclosure agreements (NDAs) for the deal.

Spokespersons for CPPIB and JP Morgan declined to comment, while representatives from NIIF and Cube Highways did not respond to emailed inquiries on Monday evening.

Cube Highways, one of India?s largest private sector toll road operators, is likely to acquire the road assets of National Investment and Infrastructure Fund?s (NIIF) Athaang Infrastructure, according to two informed sources. The deal is projected to have an equity value of approximately Rs 40 billion. Canada Pension Plan Investment Board (CPPIB), the other finalist, also submitted a binding bid for the deal managed by JP Morgan. Cube Highways is expected to be granted exclusivity to finalize the acquisition of a portfolio consisting of five road assets totalling 230 km. Earlier reports from Mint had indicated that CPPIB and Cube Highways were the final contenders and were anticipated to submit their final binding bids. One of the sources noted that both Cube Highways and CPPIB had made binding bids, and Cube Highways had emerged as the leading candidate. The intention is now to provide Cube Highways with exclusivity to conclude the transaction. Approximately ten global and domestic infrastructure funds, including CPPIB, KKR, Spain?s Abertis, France?s Vinci Highways, Edelweiss? Sekura Roads, and Caisse de d?p?t et placement du Qu?bec (CDPQ), have signed non-disclosure agreements (NDAs) for the deal. Spokespersons for CPPIB and JP Morgan declined to comment, while representatives from NIIF and Cube Highways did not respond to emailed inquiries on Monday evening.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?