Cintra acquires part of IRB Infra Trust, MMK Toll Road

07 Jun 2024 CW Team

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).

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..