The Competition Commission of India (CCI) has approved the proposed acquisition by Cube V of the road asset business (es) of DYIPL, DVIPL, DGIPL and DTEHPL.

The proposed combination entails the indirect purchase by Cube Highways and Infrastructure V Pte. Ltd. (Cube V) and Others of the Dinesh Chandra Yamuna Infra Pvt. Ltd. (DYIPL) Business (from DYIPL), Dinesh Chandra Vaishnodevi Infra Pvt. Ltd (DVIPL) Business (from DVIPL), Dinesh Chandra Giriraj Infra Pvt. Ltd (DGIPL) Business (from DGIPL) and Dineshchandra Trans-Eastern Highways Pvt. Ltd. (DTEHPL) Business (from DTEHPL).

Cube V is registered as a foreign portfolio investor with Securities and Exchange Board of India (SEBI) with the aim of operating a world-class portfolio of high-quality highway and transportation infrastructure assets in India. It acquires, operates and manages road assets in India.

The DYIPL Business, DVIPL Business, DGIPL Business and DTEHPL Business (collectively referred to as the Target Business(es) are housed under DYIPL, DVIPL, DGIPL and DTEHPL, respectively. The Target Businesses are engaged in the business of operating (through governmental concessions) roads and highways in India.

Detailed order of the Commission will follow.

Competition approval for acquisition by Cube V of road concession businesses operating under governmental concessions. The Competition Commission of India approved the proposed indirect acquisition by Cube Highways and Infrastructure V Pte. Ltd. of the road asset businesses housed in DYIPL, DVIPL, DGIPL and DTEHPL, comprising operations that manage roads and highways under governmental concessions. Cube V is registered as a foreign portfolio investor and operates, acquires and manages highway and transport infrastructure assets in India. A detailed order of the Commission will follow.