The Competition Commission of India (CCI) has approved the proposed combination involving the acquisition of interests in IRB Infrastructure Trust and MMK Toll Road Private Limited by Cintra.
The approved combination involves Cintra SPV 1 acquiring approximately 24 per cent of the issued and outstanding unitholding in the private infrastructure investment trust (InvIT), along with certain commercially negotiated rights (InvIT transaction). Simultaneously, Cintra SPV 2 will acquire approximately 24 per cent equity shareholding and the right to nominate a director on the board of directors of the IM of the private InvIT.