Brazil's OAS sets Invepar auction date, Brookfield out of race
As part of its debt recovery plan, Brazilian engineering group OAS will auction off its 24.4% stake in local infrastructure firm Invepar on March 14.
The value of the sale is expected to be at least 1.35bn reais (US$344mn), local paper Estadão reported.
Canada's Brookfield Asset Management, which offered 1.2bn reais, has been prevented from bidding as it withdrew its offer earlier this month following last minute requests to change the decision-making powers of other Invepar shareholders such as pension funds Previ (Banco do Brasil), Petros (Petrobras) and Funcef (Caixa Econômica Federal).
OAS had debts of some 11bn reais at the end of last year, including money owed to investment funds, financial institutions, development agencies and bondholders, the paper said.
Invepar has shares in 12 transport infrastructure concessions, including ones for highways, airports and urban mobility.
Both Invepar and OAS are under investigation by the federal police in the Lava Jato corruption case.
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Other projects in: Infrastructure (Brazil)
Get critical information about thousands of Infrastructure projects in Latin America: what stages they're in, capex, related companies, contacts and more.
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- Updated:
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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EPR Vias do Café is a company formed by Grupo Equipav and Perfin Administrator of Resources Ltda. for the execution of the Lote Rodoviário3 - Varginha - Furnas (Road Concessions...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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