Date: 2026-05-20Category: Press ReleaseState: Union GovernmentCountry: India
CCI approves proposed acquisition of Baharampore - Farakka Highways, Devanahalli Tollway Pvt Ltd, Western MP Infrastructure and Toll Roads Pvt Ltd and Chenani Nashri Tunnelway Ltd by Cube Highways Trust
**CCI Approval of Acquisition by Cube Highways Trust**
On May 20, 2026, the Competition Commission of India (CCI) announced the approval of a proposed combination involving the acquisition of four infrastructure entities by Cube Highways Trust (Cube Trust).
**Transaction Details**
The approved transaction involves the acquisition of 100% of the equity share capital of the following Target Special Purpose Vehicles (SPVs):
* Baharampore - Farakka Highways Limited (BFHL)
* Devanahalli Tollway Private Limited (DTPL)
* Western MP Infrastructure and Toll Roads Private Limited (WMPTL)
* Chenani Nashri Tunnelway Limited (CNTL)
**Entity Profiles**
* **Acquirer:** Cube Highways Trust is an Infrastructure Investment Trust (InvIT) registered with the Securities and Exchange Board of India (SEBI) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
* **Target SPVs:** These entities are incorporated in India and are primarily engaged in the operation of roads and highways through various governmental concessions.
**Administrative Information**
* **Release ID:** 2263413
* **Posting Date:** 20 May 2026, 7:43 PM
* **Location:** PIB Delhi
* **Visitor Counter:** 93
* **Reference:** NB/ONP
The Commission noted that a detailed order regarding this approval will follow.
Key Entities Referenced
Competition Commission of India (CCI): The primary regulatory authority that approved the 100% acquisition of equity share capital in four highway projects.
Cube Highways Trust: An infrastructure investment trust (InvIT) and the acquiring entity in the proposed combination.
Target SPVs (BFHL, DTPL, WMPTL, and CNTL): A collective group of four road and highway operating companies being acquired, including projects in Baharampore-Farakka, Devanahalli, Western MP, and Chenani Nashri.
SEBI (Infrastructure Investment Trusts) Regulations, 2014: The regulatory framework governing the registration and structure of the Cube Highways Trust as an InvIT.
Securities and Exchange Board of India (SEBI): The regulator under which the acquiring infrastructure investment trust is registered.
Competition Commission of India
CCI approves proposed acquisition of
Baharampore - Farakka Highways, Devanahalli
Tollway Pvt Ltd, Western MP Infrastructure and
Toll Roads Pvt Ltd and Chenani Nashri
Tunnelway Ltd by Cube Highways Trust
Posted On: 20 MAY 2026 7:43PM by PIB Delhi
The Competition Commission of India (CCI) has approved the proposed acquisition of Baharampore -
Farakka Highways Limited, Devanahalli Tollway Private Limited, Western MP Infrastructure and Toll
Roads Private Limited and Chenani Nashri Tunnelway Limited by Cube Highways Trust.
The proposed combination relates to acquisition of 100% of the equity share capital of: (i) Baharampore-
Farakka Highways Limited (BFHL), (ii) Devanahalli Tollway Private Limited (DTPL), (iii) Western MP
Infrastructure and Toll Roads Private Limited (WMPTL), and (iv) Chenani Nashri Tunnelway Limited
(CNTL) by the Cube Highways Trust (Cube Trust) (BFHL, DTPL, WMPTL and CNTL are collectively
the ‘Target SPVs’).
The Cube Trust is an infrastructure investment trust (InvIT) registered with the Securities and Exchange
Board of India (SEBI) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
The Target SPVs have been incorporated in India and are engaged in the business of operating (through
governmental concessions) roads and highways in India.
Detailed order of the Commission will follow.
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NB/ONP
(Release ID: 2263413) Visitor Counter : 93
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