Ferrovial acquires $800 million stake in IRB Infrastructure Trust

Spanish infrastructure developer Ferrovial, through its subsidiary 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. According to a stock exchange filing by IRB, the total value of the secondary stake purchase amounts to approximately Rs 65.9 billion (around $796 million). 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 Euro 369 million in 2021.