The Competition Commission of India (CCI) has approved the acquisition of Athaang Devanahalli Tollway Private Limited, Athaang Jammu Udhampur Highway Private Limited, and Quazigund Expressway Private Limited by Cube Highways Trust and Cube Highways and Infrastructure V Pte. Ltd.
Under the deal, Cube V will acquire a 100% stake in Athaang Devanahalli Tollway, while Cube Trust will acquire full ownership of Athaang Jammu Udhampur Highway and Quazigund Expressway. Cube Trust, registered with SEBI, manages road and highway projects in India, while Cube V operates as a foreign portfolio investor. The targets are special purpose vehicles operating roads and highways under government concessions.