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Ferrovial Acquires Stake In IRB Infrastructure Trust For EUR 740mn

CAPITAL GOODS


  • Ferrovial has announced it is acquiring a 24% stake in IRB Infrastructure Trust from GIC affiliates for EUR 740M, funded with equity and potentially non-recourse debt (and potential other sources). EUR 740mn is 0.75 turns of Ferrovial’s 2023 EBITDA.
  • IRB Infrastructure Trust holds 12 toll road concessions in India, with 3 more planned; GIC to retain a 25% stake, IRB Infrastructure Developers to retain 51% post-transaction.
  • Transaction closure expected by end of April 2024, pending regulatory approval
  • Total investment includes EUR 97M for equity commitments in ongoing projects.
  • Ferrovial, through its subsidiary Cintra, also holds a 25% stake in IRB Infrastructure Developers.
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