Ferrovial-backed Cintra to acquire a 24% stake in IRB Infrastructure Trust from GIC for €740m.

Ferrovial-backed Cintra, a transport company, agreed to acquire a 24% stake in IRB Infrastructure Trust, an Indian highway construction company, from GIC, a Singaporean sovereign wealth fund, for €740m. “Each of IRB and GIC, respectively, share the vision of delivering high-quality sustainable infrastructure projects that enhance connectivity, mobility, and economic growth in India. This investment in the Trust complement and align better our relationship. We’ll keep leveraging our complementary strengths and expertise to capture further value from the growth that IRB is having, while we keep collaborating with each of GIC and IRB, respectively, in making the most of the pipeline ahead. We look forward to working closely with IRB's management and stakeholders to support the company's continued success and create value for our shareholders,” Andres Sacristan, Cintra CEO.