PNC Infratech sells shares in Jaora-Nayagaon Toll Road to Viva Highways

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