Conglomerates Votorantim and Itaúsa have partnered to buy a stake in infrastructure concessions company CCR for about 4 billion reais, two people familiar with the matter told Reuters.
The move indicates a new turnaround in the 14.86% share of CCR that the construction company Andrade Gutierrez wants to sell and which has already negotiated with other potential buyers.
Andrade Gutierrez had agreed in May last year to sell its stake to IG4 Capital for R$4.6 billion, but the deal fell through.
Last month, a Reuters report showed that the Peruvian group Aenza, controlled by the IG4 fund, submitted a bid for Andrade Gutierrez’s stake in CCR, according to sources.
Afterwards, Andrade Gutierrez decided to enter into exclusive negotiations with Itaúsa and Votorantim, said one of the sources. Itaúsa, Votorantim and Andrade Gutierrez did not immediately respond to a Reuters request for comment. CCR declined to comment.
Through purchases on the stock exchange, Votorantim has already reached a 5.8% stake in CCR’s capital.
Earlier this Wednesday, the blog Brazil Journal had published that Itaúsa, owner of Itaú Unibanco and Alpargatas, and Votorantim, signed an exclusivity agreement to buy a stake in CCR.
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