Ferrovial has sold its 5 per cent stake in Indian road construction company IRB Infrastructure Developers Limited for €214 million (US$231.4 million) through a block deal, involving the placement of 301.9 million shares with institutional investors on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Despite the sale, Ferrovial remains IRB’s second-largest shareholder with a 19.9 per cent stake and will retain its representation on IRB’s board of directors.