1. Ferrovial
  2. Investors

Ferrovial informs that its subsidiary Cintra has submitted and offer for the acquisition of a maximum of 24.90% in the share capital of the Indian entity IRB Infrastructure Developers Limited.

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Published on 10/26/2021

On corporate transactions: mergers, acquisitions and others

Pursuant to the Consolidated Text of the Spanish Securities Market Act (Texto Refundido de la Ley del Mercado de Valores) and the Regulation (EU) on Market Abuse, Ferrovial, S.A. (the “Company” or “Ferrovial“) communicates the following:


Cintra, a Ferrovial subsidiary, has submitted an offer for a potential acquisition of a maximum of 24.90% of the shares of the Indian listed company IRB Infrastructure Developers Ltd this Tuesday 26 October 2021. This acquisition would be through subscription of shares issued through a preferential allotment.

The amount of the investment would be a maximum of €364.64 mill. (assuming an exchange rate of 1 EUR = 87.216 INR).

The closing of the transaction is subject, among other requirements, to:

  • Cintra, IRB Infrastructure Developers Ltd and Mr. Virendra D. Mhaiskar (and his family and his holding company), IRB Infrastructure Developers Ltd.’s majority shareholder, executing a definitive agreement regarding the transaction;
  • approval of the preferential allotment by the shareholders of IRB Infrastructure Developers Ltd.’s in a general meeting; and
  • receipt of approvals from relevant regulators and lenders.

In the event the transaction is completed, a maximum stake of 24.90 % will not grant Cintra controlling rights over IRB Infrastructure Developers Ltd. Mr. Virendra D. Mhaiskar (his family and his holding company) will continue to be the single largest shareholder of IRB Infrastructure Developers Ltd. and retain management control.

Madrid, 26 October 2021

Santiago Ortiz Vaamonde

Secretary of the Board of Directors of Ferrovial, S.A.

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English translation for information purposes only. In the event of discrepancies between the English and the Spanish version, the Spanish version shall prevail.

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