Gavio invests 529 million in Brazil to 41% of Ecorodovias (highways) – BBC

acquisitions

Milan , December 18, 2015 – 13:21

     
     
 

A Gavius ​​control of the third Brazilian motorway operator, with an investment of 529 million of euros. The Italian group, through the SIAS and ASTM, acquired control of the 41% quota, Ecorodovias, leader in Brazil with 1,860 kilometers of network in Brazil. The entrepreneur of Tortona enter through a capital increase and establish a partnership with the Almeida family, social and historical Brazilian operator, which drops to 39.5%.

In 2012, Almeida had regained for one billion of euro 20% Ecorodovias Impregilo, which had just passed under the control of the group Salini. The selection of Gavius ​​beat various competitors including the French giant Vinci, the Australian fund McQuarie and, originally, the interest shown by the same Atlantia. When Almeida regained minority Ecorodovias Impregilo paid at the rate of 18 reais per share, and those values ​​became finance from banks. The economic crisis that hit reais, fell from 2.1 to 4.2 to the dollar, it has skewed all parameters guarantee that the banks had dictated to finance the investment, hence the choice of Almeida to sell control, better still, through a partnership, that with Benjamin Gavio, head of the Italian group, considered feasible even under a good personal relationship and consolidated (plus entrepreneur Tortona fluent in Portuguese). Net of political turmoil just lived, however, Brazil remains an economic powerhouse with 293 million inhabitants and big plans public-private investments in all infrastructure of interest Ecorodovias.

For the group Gavio it is a return to Ecorodovias. The Brazilian company was in fact owned by Impregilo, back when the group Gavio was a shareholder of the general contractor. When in 2012 Salini took control of Impregilo, he has decided to sell Ecorodovias. Shortly after, Gavio came out completely from the capital of Impregilo. The acquisition of control of the Brazilian Ecorodovias probably the largest of a group to Italian ‘abroad this year, “it represents an important step in the development process and geographical diversification promoted by ASTM and SIAS and allows the two companies to project themselves into an international dimension and to implement the group’s strategy in the joint development in construction and concessions, ‘say the two companies controlled by the Gavio group.

December 18, 2015 (modified 18 December 2015 | 13:21)

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