PNC Infratech has approved the sale of investment and execution of Share Purchase Agreement thereof, held by the Company in Jaora - Nayagaon Toll Road Company (SPV) in the form of 2,44,23,700 equity shares representing 8.51% of the share capital of the SPV, to Viva Highways for an aggregate consideration of Rs 34,19,31,800. Accordingly, the company has entered into a Share Purchase Agreement with Viva Highways, which has made payment of an advance towards the consideration under the Share Purchase Agreement. The completion of the sale is subject to satisfaction of the conditions precedent mentioned in the Share Purchase Agreement by the parties, including receipt of approvals of the lenders of the SPV.
PNC Infratech is one of the front ending Indian infrastructure construction, development and management companies in the country, with wide experience and proven expertise in the execution of major infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways, industrial area development and other infrastructure activities with an established track record of successful execution of projects across sectors and geographies.
