Corporate News 31-Aug-18
Ramky Infrastructure enters deal to sell its entire stake in NAM Expressway
For consideration of Rs 140 crore
Ramky Infrastructure has executed a Share Purchase Agreement with Cube Highways, Singapore for sale of 100% of the Company's shareholding in NAM Expressway. The sale of 100% equity in NAM Expressway is proposed for a consideration of Rs 140 crore along with all its liabilities. The sale proceeds shall be used to reduce the debt of the company. Consequent to the sale of 100% shareholding in NAM Expressway, the consolidated debt of the company will be reduced by about Rs 1389 crore.
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