December 22, 2015 |
Italian industrial group Gruppo Gavio has agreed to pay BRL2.24bn ($561m) for joint control of Brazilian toll road operator EcoRodovias.
Gavio, through industrial holding ASTM and toll road operator SIAS, will form a new company with EcoRodovias' current owner Primav. The new company will assume a 64% stake in EcoRodovias and a 55% stake in the Line 18-Bronze monorail concession in the state of Sao Paulo from Brazilian engineering company CR Almeida.
Gavio will own 50% of common shares and
The Italian firm will share control of the toll road operator.