PNC Infratech Limited has entered into a share purchase agreement with Cube Highways and Infrastructure PTE Ltd (Cube Highways) (acquirer) 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 Private Limited (GAEPL), an associate of the Company.

The enterprise value of the project is Rs. 1834 Crore however the equity value of the proposed transaction is subject to adjustments of debt and other capital and operational costs at the closing date and hence net consideration receivable is not ascertainable at this stage.

Cube Highways and Infrastructure PTE Ltd is an infrastructure company based in Singapore with the aim of acquiring and operating a portfolio of highway and transportation infrastructure assets