Shareholders at an EGM of National Toll Roads (NTR) in Dublin today approved the acquisition of a 76.9 per cent shareholding in water and waste manager Celtic Utilities Ltd.
The acquisition values Celtic Utilities at euro 62 million.
"This is a very significant day for NTR," said Mr Jim Barry, chief executive of NTR. "The acquisition of Celtic Utilities will consolidate our position as the leading developer of public infrastructure in Ireland." he added.
Celtic Utilities was founded in 1998 and has developed joint ventures with strategic partners in the water and waste sector. NTR already operated a 50/50 joint venture with Celtic Waste in the development of solid waste management infrastructure
Celtic Anglian Water Limited is a 50/50 joint venture with Anglian Water that operates in the development of water and wastewater infrastructure.