Cintra acquires 24% stake in IRB Infrastructure Trust

Cintra, a subsidiary of Ferrovial, has acquired 24 per cent stake in IRB Infrastructure Trust from GIC Affiliates, IRB Infrastructure Developers Ltd said on Thursday.

”Completion of the acquisition is subject to fulfilment of conditions precedent, including receipt of requisite regulatory and third-party approvals,” IRB Infrastructure Developers said in a statement.

IRB will also benefit from the growing EPC and O&M order book as the sole project manager to the trust, it added.

IRB Infrastructure Developers CMD Virendra Mhaiskar said, ”This is a vindication of the value creation IRB has been able to do in the Trust which is India’s maiden development platform in the roads and highways sector.”