CCI Approves Cintra's 24% Stake Acquisition in IRB Infrastructure

The Competition Commission of India has given the green light to Cintra for acquiring a 24% stake in IRB Infrastructure Trust and MMK Toll Road Pvt Ltd. This move involves rights in Private InvIT and director nominations. Additionally, CCI approved the acquisition of Meerut Budaun Expressway Ltd by IRB Infrastructure Trust.

The Competition Commission of India (CCI) has approved Cintra's acquisition of a 24 per cent holding in IRB Infrastructure Trust and MMK Toll Road Pvt Ltd. The deal grants Cintra negotiated rights within the Private InvIT and a directorial position on the IM board.

Cintra InvIT Investments BV and Cintra IM Investments BV, both part of the Netherlands-based Ferrovial group, aim to fortify their presence in the Indian infrastructure sector. Ferrovial is a global player in transport infrastructure and civil construction.

Moreover, CCI has sanctioned the acquisition of Meerut Budaun Expressway Ltd by IRB Infrastructure Trust, enhancing IRB's development of the Ganga Expressway project. This approval includes the issuance of non-convertible debentures (NCDs) and new units to existing InvIT unitholders.

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