Cube Highways acquires KNR Walayar Tollways

Cube Highways III Private Limited has acquired a 100 per cent stake in KNR Walayar Tollways Private Limited , a subsidiary of KNR Constructions Limited. The enterprise value of the assets for this transaction stands at Rs 5.12 billion (comprising debt of Rs 1.27 billion and an equity valuation of Rs 3.85 billion), excluding claims payable by NHAI and other governmental instrumentalities, which will be passed through to KNR Constructions as and when realised.