PNC Infratech sells its shares in JTCL to Viva Highways

PNC Infratech Limited has announced the completion of a transaction involving the sale of equity shares of Jaora-Nayagaon Toll Road Company Limited (JTCL) to Viva Highways Limited for a consideration of Rs 341.94 million. PNC Infratech has sold 24,423,700 equity shares (representing 8.51 per cent of the share capital) of JTCL. The transaction has been completed pursuant to the satisfaction of conditions mentioned in the share purchase agreement, including the receipt of approvals of the lenders of the special purpose vehicle JTCL is involved in four-laning of the Jaora-Nayagaon section of State Highway-31 from km 126/200 to km 252/200 in Madhya Pradesh. The project is being implemented on a build-operate-transfer basis.

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