Baharampore Farakka Highway acquired by Cube Highways
The Singapore-based company, Cube Highways has closed the acquisition of Baharampore Farakka Highways Ltd (BFHL). I Squared Capital-backed firm has bagged the 101 km highway stretch in West Bengal, from the HCC group at an enterprise value of Rs1,323 crore.
As per the information apart from the equity consideration of Rs677 crore, HCC is entitled to an additional payout of up to Rs 264 crore-contingent on traffic performance, which is payable in two tranches by Q3 FY24 and Q1 FY25.
BFHL is a subsidiary of HCC Concessions which operates a toll road project between the Baharampore and Farakka sections of NH 12 in West Bengal, connecting Kolkata and Haldia port to North Bengal and North Eastern states.
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