Ramky Infrastructure Limited executes share purchase agreement with Cube Highways

Ramky Infrastructure Limited has executed a share purchase agreement with Cube Highways Private Limited for the sale of 100 per cent of the company’s shareholding in NAM Expressway Limited. The equity sale is proposed for a consideration of Rs 1.4 billion along with all its liabilities. The sale proceeds will be used to reduce Ramky Infrastructure’s debt. Consequent to the sale of the entire shareholding in NAM Expressway Limited, the consolidated debt of the company will be reduced by about Rs 13.89 billion.