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HICL sells stake in US toll-road project for $232m, unveils 50m buyback

By Frank Prenesti

Date: Wednesday 28 Feb 2024

(Sharecast News) - HICL said it had was selling its entire stake in the US Northwest Parkway toll-road project (NWP) to VINCI Highways for $232m and starting a 50m share buyback with the proceeds.

The sale proceeds represent a 30% premium to the company's September 30, 2023 valuation. Completion is expected in the second quarter of this year, the company said on Wednesday.


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