Ferrovial acquires $800 million stake in IRB Infrastructure Trust

Spanish infrastructure developer Ferrovial, through its unit Cintra, has agreed to acquire a 24 per cent stake in IRB Infrastructure Trust from GIC, a sovereign wealth fund, as well as a similar stake in MMK Toll Road Private Limited. The total value of the secondary stake purchase amounts to approximately Rs 65.90 billion (around $796 million), according to a stock exchange filing by IRB. This transaction marks Ferrovial’s second investment in the IRB group, following its acquisition of a 24.86 per cent stake in IRB Infrastructure Developers, the group’s listed flagship, for 369 million euros in 2021.