CCI Clears Cube Highways' Major Acquisition of Indian Tollways

The Competition Commission of India approved the acquisition by Cube Highways Trust and Cube Highways and Infrastructure V of three Indian tollway companies. The deal involves total ownership transfer of Athaang Devanahalli Tollway, Athaang Jammu Udhampur Highway, and Quazigund Expressway to Cube Highways, boosting their infrastructure portfolio in India.

The Competition Commission of India (CCI) has given the green light to a significant acquisition by Cube Highways Trust and Cube Highways and Infrastructure V Pte. Ltd. They will gain complete control of Athaang Devanahalli Tollway Private Limited, Athaang Jammu Udhampur Highway Private Limited, and Quazigund Expressway Private Limited, according to a press release.

The strategic purchase includes Cube Highways and Infrastructure V Pte. Ltd.'s takeover of Athaang Devanahalli Tollway, while Cube Highways Trust will acquire the other two entities. This move highlights Cube Trust's role as an infrastructure investment trust registered under India's SEBI guidelines, focusing on road and highway management.

The acquired companies, set up as special purpose vehicles, operate through governmental concessions. They play a crucial role in India's road and highway sectors, with Cube V being a recognized foreign portfolio investor managing similar assets in the country.

(With inputs from agencies.)