Spanish infrastructure group Ferrovial SA and Singapore’s sovereign wealth fund GIC invested upto ₹5,347 crores (approximately US$730 million) in IRB Infrastructure Developers Limited.
Ferrovial’s subsidiary Cintra Global SE will invest up to ₹3,180 crore for a 24.9% stake in IRB Infrastructure, while GIC will invest up to ₹2,167 crore for a 16.9% stake, reported Mint.
Touchstone Partners acted for Cintra Investments and GIC Singapore.
Partner and Head Mumbai office Ruchir Sinha and Shreyas Bhushan acted on the deal. The deal team was supported by Associates Prashant Khurana, Heena Ladji, Arushi Gupta, Divyani Auti, Raina Mitra, and Shivam Yadav.
Senior Adviser Vinod Dhall, Partner Gaurav Desai and Senior Associate Shruti Bhat advised Cintra from an anti-trust perspective.
This is one of the largest investments in a listed infrastructure company. The team had earlier advised GIC on their investment in the GIC - IRB InvIT, the first unlisted InvIT with an EV of USD 3.2 bn.