Irish food and agriculture cooperative IAWS has paid a sum believed to be in excess of €70m (US$92.2m) to acquire a 16.59% stake in compatriot company NTR, whose interests cover toll roads, integrated waste management, water/wastewater treatment, renewable energy and broadband telecommunications.

IAWS bought 3.797m shares in NTR to acquire the stake, which it said would enhance value for shareholders. 

“The Co-op believes NTR plc to be well run and well placed for future growth and is very pleased to be making an investment in this company,” the cooperative said in a short statement.