ITNL signs share purchase agreement for sale of equity stake in APEL

IL&FS Transportation Networks Limited has signed a share purchase agreement with Cube Highways and Infrastructure Private Limited for the sale of its equity stake in Andhra Pradesh Expressway Limited (APEL) for an aggregate value of Rs 1.4 billion. The completion of the transaction and receipt of the consideration is contingent upon the fulfillment of certain conditions and approval from all concerned authorities and APEL’s creditors.