Mitsubishi Corporation-led consortium to acquire 20 per cent stake in Cube Highways

January 30, 2018

A Mitsubishi Corporation-led Japanese consortium has agreed to acquire a 20 per cent stake in I Squared Capital and IFC -backed Cube Highways for $300 million-$350 million. Besides Mitsubishi Corporation, the consortium includes the East Nippon Expressway Company and the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development. Earlier, in November 2017, a wholly owned entity of ADIA had also acquired a minority stake in the company for $300 million-$350 million. The funds raised from these two agreements will be utilised in the future for the acquisition of toll and annuity road assets as well as road projects to be implemented under HAM and the toll-operate-transfer model.