Ferrovial’s toll road subsidiary Cintra has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for EUR 369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road.As a result, Ferrovial is now a significant minority shareholder with representation on the company’s Board of Directors. Cintra is expected to support the company’s development and share its extensive international experience in managing toll roads and analyzing new investment opportunities. The deal was completed following approval by IRB’s Shareholders’ Meeting and after obtaining the pertinent statutory approvals. IRB will continue to be managed by its majority shareholder, Virendra D. Mhaiskar (his family and holding company).Founded in 1998, IRB Infrastructure Developers is listed on the Bombay Stock Exchange. It is one of India’s leading infrastructure companies and a pioneer in the industry, having developed the country’s first Build-Operate-Transfer concession. It currently has 24 toll road projects in its portfolio, representing around 20% of the Golden Quadrilateral, a road network linking the country’s main economic development centers.
Ferrovial’s toll road subsidiary Cintra has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for EUR 369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road.As a result, Ferrovial is now a significant minority shareholder with representation on the company’s Board of Directors. Cintra is expected to support the company’s development and share its extensive international experience in managing toll roads and analyzing new investment opportunities. The deal was completed following approval by IRB’s Shareholders’ Meeting and after obtaining the pertinent statutory approvals. IRB will continue to be managed by its majority shareholder, Virendra D. Mhaiskar (his family and holding company).Founded in 1998, IRB Infrastructure Developers is listed on the Bombay Stock Exchange. It is one of India’s leading infrastructure companies and a pioneer in the industry, having developed the country’s first Build-Operate-Transfer concession. It currently has 24 toll road projects in its portfolio, representing around 20% of the Golden Quadrilateral, a road network linking the country’s main economic development centers.
