Bharat Road to sell 39pc in GAEPL, to pare Rs 600cr debt

Bharat Road Network Ltd (BRNL) has entered into an agreement with Singapore's venture capital Cube Highways and Infrastructure Pte Ltd for sale of its 39 per cent stake in road project company, Ghaziabad Aligarh Expressway Private Ltd (GAEPL).

City-based infrastructure company Srei has a stake of close to 20 per cent in BRNL.

"The enterprise valuation for GAEPL is Rs 1,830 crore based on valuation in December 2018. The actual valuation cannot be ascertained at present, as it would depend on adjustments at the time of handover," sources aware of the deal told

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