Deals20 Nov 2024, 08:05 pm
PNC Infratech Subsidiaries Receive In-Principle Approval for Divestment from National Highways Authority of India
AI Summary
PNC Infratech Ltd. has announced that its subsidiaries, PNC Bithur Kanpur Highways Private Limited, PNC Gomti Highways Private Limited, and PNC Aligarh Highways Private Limited, have received an In-Principal Approval for the divestment of the company’s interests in these entities from the National Highways Authority of India. This approval comes after the company's previous intimation regarding the proposed sale or disposal of assets/undertakings, subject to various statutory and regulatory approvals.
Key Highlights
- PNC Infratech subsidiaries receive In-Principal Approval for divestment from National Highways Authority of India
- The subsidiaries involved are PNC Bithur Kanpur Highways Private Limited, PNC Gomti Highways Private Limited, and PNC Aligarh Highways Private Limited
- The approval is a significant step towards the proposed sale or disposal of the company’s assets/undertakings
- The divestment is subject to various statutory and regulatory approvals
- The announcement follows PNC Infratech’s previous intimation dated January 15, 2024 and September 28, 2024