BNDES sets BH subway privatization auction for December 22 at B3

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The auction for the privatization of the Minas Gerais square of Companhia Brasileira de Trens Urbanos, CBTU Minas, which operates the Belo Horizonte Metro, will take place on December 22, at B3, according to the public notice published this Friday (23) by Banco Nacional de Economic and Social Development (BNDES), structuring the process.

The proposals should be delivered days before, on December 19, and total investments were maintained at R$ 3.8 billion, of which R$ 3.2 billion in public resources -~– R$ 2.8 billion from the Federal Government and R$ $400 million from the government of Minas.

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The project is part of the spin-off of CBTU Minas from CBTU Brasil, a state-owned company that manages passenger train plazas in other states as well.

The operator that buys the asset will become the new controlling shareholder of the business in Belo Horizonte, responsible for operating lines 1 and 2 of the city’s subway.

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The investor who offers the highest value for all the shares of the company spun off from CBTU Brasil will win the auction.

The R$ 3.2 billion foreseen with public resources will be transferred as the new operator makes the mandatory investments.

As was already foreseen in the model discussed in the public consultation process, the investments will be destined to the modernization of Line 1 — 28.1 kilometers long and 19 stations for passengers —, currently in operation, and its expansion to the future Nova Eldorado station.

The construction of Line 2, which will connect the neighborhoods of Calafate and Barreiro — 10.5 km of expansion and 7 new stations — will also be the responsibility of the auction winner.

Source: CNN Brasil

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