C&C Constructions to sell entire stake in two road SPVs

C&C Constructions has executed a definite term sheet for sale of its entire stake in two of its road SPVs. The documentation for the sale of these two road assets is in progress and the permission for sale from the concerned authorities shall be initiated.

The sale process is likely to be completed in around three months. The Board of Directors of the company has already granted its approval for sale of its stake in above said two road SPVs.

C&C Constructions operates as an infrastructure development company in India. The company engages in the construction of highways and airports; laying of optic fiber cables; and maintenance of telecom networks.