Ferrovial subsidiary Cintra to acquire 24% stake in IRB Infra Trust from GIC
IRB Infrastructure Developers Ltd. IRB Infrastructure Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India.
IRB Infra owns 51% of units in the Trust, while the balance 49% is held by affiliates of GIC. The Trust holds a portfolio of 15 road projects spanning across 10,567 lane-kilometre.
"We’ll keep leveraging our complementary strengths and expertise to capture further value from the growth that IRB is having, while we keep collaborating with each of GIC and IRB, respectively, in making the most of the pipeline ahead," said Cintra CEO Andres Sacristan. Shares of IRB Infra were trading 10% higher on the BSE on Thursday at ₹56.07 apiece in a largely positive market.Milestone Alert!
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