"The company has entered into a share purchase agreement on August 24 with Cube Highways & Infrastructure Pte Ltd, a company incorporated in Singapore, for sale of its entire equity stake in Andhra Pradesh Expressway Ltd (APEL) for an aggregate value of Rs 140.37 crore," IL&FS Transportation Networks said in a BSE filing.
It further said: "The completion of transaction and receipt of consideration is contingent upon fulfillment of certain conditions, approval from all concerned authorities and creditors of APEL."