Dutch infrastructure major Ferrovial pruning stake in IRB infrastructure via block deal
Cintra has offered 301 million shares for sale with a floor price between ₹63 and ₹70.16 per share, representing a 10% discount from the lower end compared to Monday's closing price. Jefferies and HSBC are the bankers for the deal.
, a toll road subsidiary of the Dutch major , is planning to sell up to a 5% stake in the on Tuesday to raise Rs 1900.29 crore ($227.8 million) via a block deal, as per a term sheet reviewed by ET.As of the end of March 2024, Cintra holds a 24.86% stake in IRB Infrastructure under the name of CINTRA INR INVESTMENTS B V, according to BSE filings. This marks the second block deal in IRB Infrastructure in the last 15 days. On May 30, 2024, IRB promoters sold 4% of their stake in the company through a block deal.
Cintra has offered 301 million shares for sale with a floor price ranging from Rs 63 to Rs 70.16 per share. This represents a 10% discount from the lower range compared to the closing price on Monday. Jefferies and HSBC are acting as bankers for the deal.
In December 2021, Cintra, the toll road subsidiary of Ferrovial, acquired a 24.86% stake in the Indian company IRB Infrastructure Developers for €369 million.
Source: Stocks-Markets-Economic Times
