CCI Approves Cube Highways Trust’s Acquisition of Four Road Infrastructure SPVs

The Competition Commission of India (CCI) has approved the proposed acquisition of four road infrastructure special purpose vehicles (SPVs) by Cube Highways Trust. The approved transaction involves the acquisition of 100% equity share capital of the following entities: 

• Baharampore-Farakka Highways Limited
• Devanahalli Tollway Private Limited
• Western MP Infrastructure and Toll Roads Private Limited
• Chenani Nashri Tunnelway Limited 

The entities are collectively referred to as the “Target SPVs” in the release. 

About Cube Highways Trust 

Cube Highways Trust is an infrastructure investment trust (InvIT) registered with the Securities and Exchange Board of India under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. 

Business Activities of Target SPVs 

The target companies have been incorporated in India and are engaged in the business of operating roads and highways through government concessions in the country. 

The approval pertains to the proposed combination involving the transfer of ownership of the four SPVs to Cube Highways Trust.