Cintra acquires part of IRB Infrastructure Trust, MMK Toll Road
ROADS & HIGHWAYS

Cintra acquires part of IRB Infrastructure Trust, MMK Toll Road

A notification from the competition authority states that the Competition Commission of India (CCI) has authorised Cintra's planned combination, comprising the acquisition of IRB Infrastructure Trust and MMK Toll Road Private Limited. The buyers are Cintra IM Investments B.V. and Cintra InvIT Investments B.V. The Acquirers are fully-owned subsidiaries of Cintra Global S.E., a member of the Ferrovial Group that was created in the Netherlands specifically for the purpose of the proposed merger. The Ferrovial Company is a worldwide developer of transportation infrastructure, mobility solutions, engineering, and the construction of civil works and structures. The Cintra subsidiary of the Ferrovial Group is responsible for managing and developing toll roads. The Indian Trusts Act of 1882 and the Infrastructure Investment Trusts Regulations of 2014, both issued by SEBI, govern the IRB Infrastructure Trust (Private InvIT), a private trust. GIC and IRB Infrastructure Developers Ltd. (IRB ListCo) are the trust's sponsors. It manages 14 roadway assets that are in operation in accordance with the concessions given by the relevant nodal bodies. The Private InvIT holds all of its road projects through SPVs and makes investments in road infrastructure assets in India. The investment manager of the private InvIT, which is an InvIT registered with SEBI, is MMK Toll Road Private Limited (IM). As per the CCI release, the proposed combination entails Cintra SPV 1 (InvIT Transaction) acquiring approximately 24% of the issued and outstanding unitholding (on a fully-diluted basis) along with certain rights that have been commercially negotiated in the Private InvIT; concurrently, Cintra SPV 2 will acquire approximately 24% of the equity shareholding and the right to nominate a director on the board of directors of the Instant Mutual Trust (IM).

A notification from the competition authority states that the Competition Commission of India (CCI) has authorised Cintra's planned combination, comprising the acquisition of IRB Infrastructure Trust and MMK Toll Road Private Limited. The buyers are Cintra IM Investments B.V. and Cintra InvIT Investments B.V. The Acquirers are fully-owned subsidiaries of Cintra Global S.E., a member of the Ferrovial Group that was created in the Netherlands specifically for the purpose of the proposed merger. The Ferrovial Company is a worldwide developer of transportation infrastructure, mobility solutions, engineering, and the construction of civil works and structures. The Cintra subsidiary of the Ferrovial Group is responsible for managing and developing toll roads. The Indian Trusts Act of 1882 and the Infrastructure Investment Trusts Regulations of 2014, both issued by SEBI, govern the IRB Infrastructure Trust (Private InvIT), a private trust. GIC and IRB Infrastructure Developers Ltd. (IRB ListCo) are the trust's sponsors. It manages 14 roadway assets that are in operation in accordance with the concessions given by the relevant nodal bodies. The Private InvIT holds all of its road projects through SPVs and makes investments in road infrastructure assets in India. The investment manager of the private InvIT, which is an InvIT registered with SEBI, is MMK Toll Road Private Limited (IM). As per the CCI release, the proposed combination entails Cintra SPV 1 (InvIT Transaction) acquiring approximately 24% of the issued and outstanding unitholding (on a fully-diluted basis) along with certain rights that have been commercially negotiated in the Private InvIT; concurrently, Cintra SPV 2 will acquire approximately 24% of the equity shareholding and the right to nominate a director on the board of directors of the Instant Mutual Trust (IM).

Next Story
Infrastructure Transport

Anand Vihar and Punjabi Bagh Flyovers Ready

Work on two major road infrastructure projects, the Anand Vihar flyover and the Punjabi Bagh flyover, has been completed but are yet to be opened for public use, according to officials. Located in highly congested areas, work on these projects started around two years ago. "The work on the flyover is complete and it is ready for opening," said a PWD official on Wednesday. According to sources, both the flyovers are likely to be inaugurated closer to the assembly elections in Delhi, scheduled for early next year. During the time the work was under way, motorists faced heavy traffic congestion ..

Next Story
Infrastructure Transport

RDSO finalise oscillation trials on Indore Metro

Indore Metro Phase 1 advances with the completion of oscillation and brake performance trials on the Yellow Line through three coaches manufactured by Alstom conducted by Research Design and Standards Organisation (RDSO). The oscillation trials were conducted with an aim to evaluate the stability and performance of the three different coaches during the movement, ensuring that the commencement of operation on Indore metro meets the safety and performance standard. The Emergency Braking Distance (EBD) was also reviewed by the RDSO team to evaluate the efficient stopping of trains during the op..

Next Story
Infrastructure Urban

IIT Guwahati develops sustainable geopolymer

A research team at the Indian Institute of Technology Guwahati, led by Prof. Anil K. Mishra from the Department of Civil Engineering, has developed an innovative solution to two major global challenges: industrial waste management and sustainable construction. Their research focuses on creating a geopolymer using industrial byproducts and waste materials, such as water treatment sludge (WTS), fly ash (FA), and ground granulated blast furnace slag (GGBS). “With the rapid pace of urbanisation and industrialisation, managing industrial waste has become a critical global issue," said IIT Guwaha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000