Brisa, Auto‐estradas de Portugal, S.A. – Sale of interest in CCR
Brisa announced the sale of its 16.35% interest in Companhia de Concessões Rodoviárias (CCR), the Brazilian toll road operator.
The total gross proceeds from the sale, which will be completed in two parts, are expected to be €1.2bn. This is the equivalent of €2.00 per Brisa share, or €229.2m in respect of the Fund’s 19.1% interest in the company.
The successful sale of the interest in CCR is a significant achievement for Brisa. We view the completion of the sale of CCR as an extremely positive outcome for Brisa and one which will significantly de‐risk the Fund’s investment in the company. It is a course of action that we have supported for some time.
This information note (“Note”) has been prepared by Arcus European Investment Manager LLP (“Arcus”) for use solely for information purposes. Arcus makes no representations or warranties to the accuracy or completeness of any past, simulated or estimated performance results contain herein, and further nothing contained herein shall be relied upon as a promise by, or representation by, Arcus whether as to past or future performance results.