{"id":103833,"date":"2021-10-26T12:56:58","date_gmt":"2021-10-26T10:56:58","guid":{"rendered":"https:\/\/newsroom.ferrovial.com\/?post_type=press_release&#038;p=103833"},"modified":"2025-04-07T12:50:52","modified_gmt":"2025-04-07T10:50:52","slug":"cintra-bid-irb","status":"publish","type":"press_release","link":"https:\/\/newsroom.ferrovial.com\/en\/press-releases\/cintra-bid-irb\/","title":{"rendered":"Cintra (Ferrovial) presents a bid for up to 24.9% of Indian company IRB Infrastructure Developers"},"content":{"rendered":"    <section class=\"wysiwyg text-editor \" id=\"\">\n        <div class=\"container container--narrow container--p-10\">\n            <ul>\n<li>The acquisition, amounting to approximately 364 million euro, would be made by subscribing a preferential share issue<\/li>\n<li>The company sees great opportunities for growth in India, given the volume of concession projects<\/li>\n<li>IRB Infrastructure Developers is a leading toll road developer and operator in the Indian market, where it manages 23 projects and around 2,000 kilometers of toll road.<\/li>\n<\/ul>\n<p>Cintra, Ferrovial&#8217;s toll road subsidiary, has filed a bid to acquire up to 24.9% of Indian company IRB Infrastructure Developers, representing an investment of around 364\u00a0million euro. The deal will be conducted in the form of a preferential share issue. IRB Infrastructure Developers is a leading player in\u00a0the Indian\u00a0market, where it manages 23 projects and around 2,000 kilometers of toll road.<\/p>\n<p>If the deal is completed,\u00a0Cintra will become a key minority shareholder with representation on the Board. Cintra will also support the company&#8217;s development and transfer its extensive international experience in managing toll roads and analyzing new investment opportunities. Completion is subject to\u00a0Cintra, IRB Infrastructure Developers and Virendra D. Mhaiskar (and his family and holding company), IRB\u00b4s majority shareholder, executing a definitive agreement regarding the transaction, which must subsequently be approved by the company&#8217;s shareholders\u00a0and cleared\u00a0by the competent authorities\u00a0and\u00a0lenders. Final completion is projected to take place in the first quarter of 2022.<\/p>\n<p>In the event the transaction is completed, a maximum stake of 24.90 % will not grant Cintra controlling rights over IRB Infrastructure Developers.\u00a0Virendra D. Mhaiskar (and his family and holding company) will continue to be the single largest shareholder of IRB Infrastructure Developers and retain management control.<\/p>\n<p>ESG\u201cThis investment in IRB Infrastructure Developers represents a great opportunity for Cintra to expand into a new market for us \u2014 India \u2014 that has very promising fundamentals for toll road development. IRB has a portfolio of high-quality assets and a platform with the capability to capture some of the strong growth expected in this sector. Cintra would work with IRB to enhance its competitive position in the Indian market.\u00a0 Our international experience as an investor and operator would optimize IRB&#8217;s operational capacity, a field in which Cintra and Ferrovial are international leaders,&#8221; said Andr\u00e9s Sacrist\u00e1n, CEO of Cintra.<\/p>\n<p><strong>IRB: concessions and construction<\/strong><strong>\u00a0<\/strong><\/p>\n<p>Founded in 1998,\u00a0IRB Infrastructure Developers is listed on the\u00a0Bombay\u00a0Stock Exchange. It is one of India&#8217;s leading infrastructure companies and a pioneer in the industry, having developed the country&#8217;s first Build-Operate-Transfer (BOT) concession.\u00a0It currently has 23 toll road projects in its portfolio, representing around 20% of the Golden Quadrilateral, a road network linking the country&#8217;s main economic development\u00a0centers. Its assets include the Mumbai-Pune Expressway, one of India&#8217;s main highways. Last year it reported 630 million euro in revenue, and 310 million euro in EBITDA. Its business model integrates concessions and\u00a0construction,\u00a0and it has a very active presence in infrastructure development in India. Its construction division, which currently works exclusively on the company&#8217;s own concession projects, has built 14,000\u00a0kilometers\u00a0of road.<\/p>\n<p><strong>India: infrastructure plans<\/strong><\/p>\n<p>Infrastructure development plans have been multiplying in recent years, and the P3 model of public-private partnerships is expanding. Over 240 billion euro are expected to be invested in toll roads in 2022-2025, with privatizations set to exceed 18 billion euro, attracting a multitude of international financial and industrial investors.<\/p>\n<p>\u201cIndia combines government policies to promote infrastructure development, a favorable macroeconomic environment, and a regulatory and legal framework that encourages private investment and management under various concession models,&#8221; said Andr\u00e9s\u00a0Sacrist\u00e1n, CEO of Cintra.<\/p>\n<p>&nbsp;<\/p>\n        <\/div>\n    <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":103831,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","nivel-2":[2251,1149],"nivel-5":[1730],"nivel-1":[903],"nivel-3":[],"nivel-4":[],"class_list":["post-103833","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","nivel-2-corporate","nivel-2-infrastructures","nivel-5-cintra-en","nivel-1-highways"],"acf":[],"yoast_head":"<title>Cintra (Ferrovial) presents a bid for up to 24.9% of Indian company IRB Infrastructure Developers Ferrovial<\/title>\n<meta name=\"description\" content=\"The toll road division of Ferrovial has filed a bid for a minority stake of the Indian company IRB Infrastructure\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsroom.ferrovial.com\/en\/press-releases\/cintra-bid-irb\/\" \/>\n<meta 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