Mubadala Sells Over 3% Stake in Cube Highways Trust for Rs 689 Cr

New Delhi: Mubadala Investment Company has divested a 3.35 per cent unitholding in Cube Highways Trust for over Rs 689 crore through separate block deals on Tuesday.

Mubadala is a state-owned global investment firm that acts as one of the sovereign wealth funds of the Abu Dhabi government, while Cube Highways Trust is a Sebi-registered InvIT.

Seventy Second Investment Company LLC, an affiliate of Mubadala, sold more than 4.49 crore units in nine tranches, representing a 3.35 per cent unitholding in Noida-based Cube Highways Trust, according to exchange data on the BSE.

The units were disposed of at an average price of Rs 153.30 per unit, taking the combined deal value to Rs 689.46 crore.

Meanwhile, a clutch of domestic institutional investors bought an equal number of units at the same price.

Engineering giant Larsen & Toubro Ltd acquired 97.84 lakh shares, amounting to nearly a 1 per cent unitholding in Cube InvIT (Infrastructure Investment Trusts) for Rs 150 crore, emerging the largest buyer of units.

Mutual funds managed by HSBC, Birla, Kotak Mahindra, and WhiteOak Capital, along with HDFC Life Insurance, ICICI Prudential Life, Kotak Mahindra Life Insurance, and Axis Max Life also participated in the transaction.

The units of Cube Highways Trust rose 0.51 per cent to close at Rs 154.74 per unit on the BSE.

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