Votorantim and Itaúsa formalized on Wednesday (23) a proposal of R$ 4.1 billion for Andrade Gutierrez’s stake in the infrastructure concessionaire CCR.
The offer, already accepted by Andrade Gutierrez, involves 300.15 million shares, at R$13.75 each, or 14.9% of CCR, said Votorantim, which will invest R$1.3 billion of the total.
The amount represents a 5% premium over the closing price of CCR’s share on Wednesday at B3, of R$13.10. Considering the 5.8% interest in CCR already held by Votorantim, at the end of the transaction, Votorantim and Itaúsa will each hold approximately 10.3% of CCR’s capital.
Andrade Gutierrez had agreed in May last year to sell its stake in CCR to IG4 Capital for BRL 4.6 billion, but the deal failed.
Last month, Reuters revealed that the Peruvian group Aenza, controlled by the IG4 fund, submitted a bid for the deal, but then Andrade Gutierrez decided to enter into exclusive negotiations with Itaúsa and Votorantim, a source said.
Source: CNN Brasil
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