Reliance Infrastructure has entered into an agreement with Cube Highways for sale of 100% stake in Delhi-Agra Toll Road for an enterprise value of over Rs 3,600 crore, the Anil Ambani-led company said Thursday. Reliance Infrastructure said that proceeds from the Delhi-Agra Toll road sale to be used for debt reduction. "With this transaction, debt to reduce by over 25%, to less than Rs 5,000 crore against a net-worth of Rs 23,700 crore," Reliance Infrastructure said.
In additiin to this, NHAI claims of Rs 1,200 crore to be filed by DA Toll Road Pvt will flow directly to Reliance Infrastructure, the company said.Cube Highways and Infrastructure III Pte Ltd is a Singapore-based company formed by global infrastructure fund – I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority. The transaction is subject to all requisite permissions and approvals.

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