The Competition Commission of India (CCI) has approved the proposed acquisition of Baharampore - Farakka Highways Limited, Devanahalli Tollway Private Limited, Western MP Infrastructure and Toll Roads Private Limited and Chenani Nashri Tunnelway Limited by Cube Highways Trust.

The proposed combination relates to acquisition of 100% of the equity share capital of: (i) Baharampore-Farakka Highways Limited (BFHL), (ii) Devanahalli Tollway Private Limited (DTPL), (iii) Western MP Infrastructure and Toll Roads Private Limited (WMPTL), and (iv) Chenani Nashri Tunnelway Limited (CNTL) by the Cube Highways Trust (Cube Trust) (BFHL, DTPL, WMPTL and CNTL are collectively the ‘Target SPVs’).

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

The Target SPVs have been incorporated in India and are engaged in the business of operating (through governmental concessions) roads and highways in India.

Detailed order of the Commission will follow.

Competition clearance for acquisition of road highway operating special purpose vehicles by an infrastructure investment trust. Competition Commission of India approved the proposed acquisition of the entire equity share capital of four road and highway operating special purpose vehicles by Cube Highways Trust. The trust is a SEBI-registered infrastructure investment trust, and the target entities are Indian companies operating roads and highways through governmental concessions.