New Delhi: IL&FS Transportation Networks on Thursday said it has signed a pact to sell its entire stake in Andhra Pradesh Expressway to Singapore-based Cube Highways & Infrastructure Pte Ltd for Rs 140.37 crore.
"The company has entered into a share purchase agreement on August 24 with Cube Highways & Infrastructure Pte Ltd, a company incorporated in Singapore, for sale of its entire equity stake in Andhra Pradesh Expressway Ltd (APEL) for an aggregate value of Rs 140.37 crore," IL&FS Transportation
Networks said in a BSE filing.
It further said: "The completion of transaction and receipt of consideration is contingent upon fulfillment of certain conditions, approval from all concerned authorities and creditors of APEL."
Shares of IL&FS Transportation Networks were trading at Rs 72.20 apiece, up 3.07 per cent, from their previous close on the BSE.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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