Comments
IL&FS Transportation Networks today said it has signed a pact to sell its entire stake in Andhra Pradesh Expressway to Singapore-based Cube Highways & Infrastructure Pte Ltd for Rs 140.37 crore.
“The company has entered into a share purchase agreement on August 24 with Cube Highways & Infrastructure Pte Ltd, a company incorporated in Singapore, for sale of its entire equity stake in Andhra Pradesh Expressway Ltd (APEL) for an aggregate value of Rs 140.37 crore,” IL&FS Transportation Networks said in a BSE filing.
It further said: “The completion of transaction and receipt of consideration is contingent upon fulfilment of certain conditions, approval from all concerned authorities and creditors of APEL.”
Shares of IL&FS Transportation Networks were trading at Rs 72.20 apiece, up 3.07 per cent, from their previous close on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.