Cintra submits bid to acquire 24.90% stake in IRB infrastructure developers
Cintra, the toll road subsidiary of Ferrovial, has filed a bid to acquire up to 24.9% of IRB Infrastructure Developers. The transaction represents an investment of around EUR364 million (US$420.82 million).
IRB Infrastructure Developers is an Indian company and manages 23 projects and approximately 2,000 kilometers of toll road. Founded in 1998, it is a leading infrastructure company in the country, that has developed India's first Build-Operate-Transfer (BOT) concession. If the deal takes place, Cintra will become a key minority shareholder with representation on the Board. The maximum stake of 24.9% does not grant Cintra controlling rights over the company.
Final completion is expected to be completed in the first quarter of 2022.
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