SAO PAULO, BRAZIL--(Marketwire - August 3, 2010) - The CCR Group, the largest private concessions infrastructure group in Brazil and one of the five largest in the world, today announced to the market that its subsidiary Companhia de Participações em Concessões (CPC) has signed a Purchase and Sale of Shares and Quotas and Other Covenants for the direct and indirect acquisition of 73.45% of the concessionaire's capital stock of Rodovias Integradas do Oeste S/A highway concessionaire.
The company's investment, subject to adjustments as contemplated in the Contract for the Purchase and Sale of Shares, Quotas and Other Covenants, will be R$ 947,202,461.70. The conclusion of the acquisition is subject to precedent conditions set forth in the Contract for the Purchase and Sale of Shares and Quotas, as is the authorization of the Conceding Authority, the release of the guarantees provided by the Sellers and/or their affiliates to creditors of Rodovias Integradas do Oeste S/A and the successful conclusion of the acquisition of the remaining share capital of the Integrated Rodovias Integradas do Oeste S/A.
President's Comments
Renato Alves Vale: "This step represents the completion of another stage of the strategic planning of the CCR Group after the recent share issue, made last October, where it was projected that the funds raised would be mainly for acquisition of new businesses. We reaffirm our commitment to expanding our business with a focus on profitability through acquisitions of existing concessionaires, participation in the new bidding process for state and federal highways, and related businesses."
Contact Information:
Contacts IR:
Arthur Piotto Filho
CFO and Investor Relations Officer
E-mail: arthur.piotto@grupoccr.com.br
Tel: 55 (11) 3048-5921
Marcus Macedo:
marcus.macedo@grupoccr.com.br
Tel: 55 (11) 3048-5941
Flávia Godoy:
flavia.godoy@grupoccr.com.br
Tel: 55 (11) 3048-5955
Danilo Cabrera:
danilo.cabrera@grupoccr.com.br
Tel: 55 (11) 3048-6353