Toll road operator Cube Highways is close to signing an agreement with crisis-hit IL&FS to purchase seven toll road projects with an enterprise value of Rs 20,000 crore, The Economic Times reported.
The sale is in the final stages, the report said, adding that it will give the crisis-hit company up to Rs 8,000 crore by way of equity returns. The IL&FS debt is estimated to be Rs 91,000 crore.
The deal would help bring down IL&FS' debt by Rs 20,000 crore, the report said.
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First Published: IST