NTR sells several road assets for €50m

RENEWABLE energy group NTR has further diluted its infrastructure interests by selling a number of its Irish road assets – including Dublin’s East-Link toll bridge – to Dutch investment fund, DIF Infrastructure II, for a total €50 million.

DIF will take control of East-Link Ltd (a wholly owned subsidiary of NTR) and NTR’s shareholding in CRG Dundalk, part of the Celtic Roads Group consortium.

Meanwhile, the group’s operation and maintenance division will be sold to international infrastructure services provider, Egis Road Operation.

NTR said the deals are in line with its strategy as an international developer and operator of renewable energy and sustainable waste management.

The group will, however, retain its shareholding in the recently opened CRG Waterford and CRG Portlaoise toll concessions, whose contracts extend to October 2036 and November 2037, respectively.

“The transactions offer considerable value to our shareholders and will allow NTR to continue to invest in the growth and development of the company across our renewable and sustainable waste management portfolio,” commented NTR chief executive, Jim Barry, yesterday.

He added: “NTR has a long and successful history in PPPs and toll roads in Ireland and we’re pleased that DIF and Egis have recognised the value of these roads assets.

“Notwithstanding, it marks a major milestone for the group; as East-Link was NTR’s first ever infrastructure investment and the transaction marks the group’s substantive exit from its legacy toll road business.”

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