Adia to offload USD 400 mn stake in Indian infrastructure investor: Abu Dhabi Investment Authority (Adia) and US infrastructure investor I Squared Capital have tapped JP Morgan and Axis Capital to advise on the the sale of up to USD 400 mn of their combined 59.5% stake in Cube Highways Trust, an India-based infrastructure investment firm, Moneycontrol reports, citing sources familiar with the matter. The two bankers have reportedly initiated talks with potential buyers.

BACKGROUND- Adia first bought into the Indian firm — which invests in road and highway assets in India — in 2017, acquiring a minority stake that was valued at USD 1 bn. In April 2023, Cube raised USD 630 mn from Abu Dhabi sovereign wealth fund Mubadala.

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