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OAS S.A.

Company Detail

Description

Brazilian group OAS S.A. provides heavy and civil construction services, including engineering, planning, execution and management services for the building, transportation, infrastructure, oil and gas, sanitation, concessions and energy sectors. The company is currently facing a federal government corruption investigation, a project portfolio renegotiation and a bankruptcy protection request for nine of its companies. A planned divestment of assets is also aimed at prioritizing the core business of the group, which is its heavy construction arm Construtora OAS S.A. Assets which OAS partially or fully owns that are up for sale include: Invepar (24.4% participation), Enseada Shipyard (17.5%), OAS Empreendimentos (80%), OAS Soluções Ambientais (100%), OAS Óleo e Gás (61%) and OAS Defesa (100%). The company's participation in two stadiums, the Arena Fonte Nova (50%) in Bahia state capital Salvador and the Arena das Dunas (100%) in Rio do Grande do Norte state capital Natal, will also be up for sale.

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