Cube Nears Rs 40 Billion Deal for Athaang Road Assets
ROADS & HIGHWAYS

Cube Nears Rs 40 Billion Deal for Athaang Road Assets

Cube Highways, one of India?s largest private sector toll road operators, is likely to acquire the road assets of National Investment and Infrastructure Fund?s (NIIF) Athaang Infrastructure, according to two informed sources. The deal is projected to have an equity value of approximately Rs 40 billion.

Canada Pension Plan Investment Board (CPPIB), the other finalist, also submitted a binding bid for the deal managed by JP Morgan. Cube Highways is expected to be granted exclusivity to finalize the acquisition of a portfolio consisting of five road assets totalling 230 km.

Earlier reports from Mint had indicated that CPPIB and Cube Highways were the final contenders and were anticipated to submit their final binding bids.

One of the sources noted that both Cube Highways and CPPIB had made binding bids, and Cube Highways had emerged as the leading candidate. The intention is now to provide Cube Highways with exclusivity to conclude the transaction.

Approximately ten global and domestic infrastructure funds, including CPPIB, KKR, Spain?s Abertis, France?s Vinci Highways, Edelweiss? Sekura Roads, and Caisse de d?p?t et placement du Qu?bec (CDPQ), have signed non-disclosure agreements (NDAs) for the deal.

Spokespersons for CPPIB and JP Morgan declined to comment, while representatives from NIIF and Cube Highways did not respond to emailed inquiries on Monday evening.

Cube Highways, one of India?s largest private sector toll road operators, is likely to acquire the road assets of National Investment and Infrastructure Fund?s (NIIF) Athaang Infrastructure, according to two informed sources. The deal is projected to have an equity value of approximately Rs 40 billion. Canada Pension Plan Investment Board (CPPIB), the other finalist, also submitted a binding bid for the deal managed by JP Morgan. Cube Highways is expected to be granted exclusivity to finalize the acquisition of a portfolio consisting of five road assets totalling 230 km. Earlier reports from Mint had indicated that CPPIB and Cube Highways were the final contenders and were anticipated to submit their final binding bids. One of the sources noted that both Cube Highways and CPPIB had made binding bids, and Cube Highways had emerged as the leading candidate. The intention is now to provide Cube Highways with exclusivity to conclude the transaction. Approximately ten global and domestic infrastructure funds, including CPPIB, KKR, Spain?s Abertis, France?s Vinci Highways, Edelweiss? Sekura Roads, and Caisse de d?p?t et placement du Qu?bec (CDPQ), have signed non-disclosure agreements (NDAs) for the deal. Spokespersons for CPPIB and JP Morgan declined to comment, while representatives from NIIF and Cube Highways did not respond to emailed inquiries on Monday evening.

Next Story
Infrastructure Urban

Arya Omnitalk Powers India’s Toll Revolution with AI-Driven Solutions

Arya Omnitalk, a leader in intelligent transportation systems, is revolutionising toll collection across India’s national highways with its advanced AI-powered Toll Management Solutions. Designed for rugged remote toll locations, the company’s cutting-edge technology ensures seamless, reliable, and secure tolling—especially during high-capacity operations exceeding 200%. By integrating real-time analytics, cyber protection, and FASTag-based cashless tolling, Arya Omnitalk’s systems are significantly reducing congestion, improving transparency, and enhancing revenue assurance. Its full..

Next Story
Infrastructure Urban

Over 800 Join Anant Raj Runathon to Mark Earth Day

Over 800 participants came together at Anant Raj Estate, Sector 63A, Gurugram, for the Anant Raj Runathon 2025—a vibrant celebration of Earth Day through fitness, community bonding, and sustainability. Curated by renowned running coach Ravinder, the event featured four categories: 10-mile and 5-mile timed runs, a 5-mile walkathon, and a 1-mile kids’ run. Runners of all ages took to the green, scenic roads of the area—some chasing personal bests, others running for a cause. The Runathon was designed to promote healthy living while raising awareness about sustainable practices. Participa..

Next Story
Infrastructure Urban

PETRONAS Lubricants, Quaker Houghton Ink Strategic Deal

In a significant step towards strengthening industrial operations in India and Malaysia, PETRONAS Lubricants India Pvt. Ltd (PLIPL) and Quaker Houghton have announced a strategic partnership aimed at delivering high-performance industrial fluid solutions to key manufacturing sectors, including steel production. The collaboration combines the strengths of both companies—leveraging PETRONAS Lubricants India’s maintenance lubricant technologies and Quaker Houghton’s deep expertise in metalworking fluids. Starting from the second quarter of 2025, Quaker Houghton will begin offering PETRONAS..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?