Spain's Ferrovial to buy 24% stake in IRB Infrastructure Trust for $810 million

IRB Infrastructure Developers

14/03/2024 06:41

March 14 (Reuters) - Spanish construction giant
Ferrovial  FERF.AS  said on Thursday it will buy a 24% stake in
IRB Infrastructure Trust, an investment vehicle that holds a
portfolio of 12 toll road concessions in India, for 740 million
euros ($809.6 million).
    The group will acquire this stake from affiliates of
Singapore's sovereign fund GIC, which currently own a 49% stake
in IRB Infrastructure Trust.
    The closing of the transaction is expected by the end of
April, Ferrovial said in a filing to Spanish stock market
regulator CNMV.
     GIC's affiliates will retain a 25% stake in IRB
Infrastructure Trust and IRB Infrastructure Developers will keep
its current 51% stake, it added.
   ($1 = 0.9140 euros)

 (Reporting by Matteo Allievi, editing by David Latona)
 ((matteo.allievi@thomsonreuters.com;))