ASTM to increase direct stake in EcoRodovias

ASTM to increase direct stake in EcoRodovias

Equity Capital Markets Project & Infrastructure Finance Brazil Europe

Italy's ASTM intends to increase its direct stake in the Brazilian infrastructure company EcoRodovias as part of a corporate reorganization that includes the partial spin-off of the monorail concessionaire VemABC, according to a securities filing on Friday. ASTM plans to buy BRL1.8 billion ($345 million) in new shares in EcoRodovias through its subsidiary Igli, footing the bill for the Brazilian company to bid on an expected BRL147 billion in new toll road concessions from 2020 to 2022, EcoRodov

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