Regulator backs Brazil highway concession takeover
Brazil's antitrust regulator Cade has recommended approval of the acquisition of highway concessionaire Eco101 by infrastructure company Ecorodovias.
In December, Ecorodovias announced a deal to acquire full control of Eco101 for 46.6mn reais (US$14.9mn).
Ecorodovias, which already has 58% of the highway concessionaire, will buy the remaining stake from minority shareholders Coimex Empreendimentos e Participações, Rio Novo Locações, A. Madeira Indústria e Comércio, Urbesa Administração e Participações, Tervap Pitanga Mineração e Pavimentação, Contek Engenharia and MMF Empreendimentos e Participações.
The amount will be paid in 60 index-linked installments.
Cade's superintendent recommended approval of the deal with no conditions and a final decision from the regulator's board is expected in the coming months.
Eco101 holds the concession for a 476km stretch of highway BR-101, with 17.5km in Bahia state and 458km in Espírito Santo.
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