Astm and Sias have entered into an agreement with CR Almeida SA Engenharia e Costrucoes for the acquisition of a new company incorporated under Brazilian law (Newco) in which 64% of the capital of Ecorodovias Infraestrutura e Logistica SA will be transferred, a company listed on the Novo Mercado Bovespa which it manages approximately 1.860 km of motorway network in Brazil (the country's third largest operator) and holds controlling interests in companies operating in the logistics and port sectors.
The agreement provides that Astm and Sias, through an Italian-law vehicle, subscribe to a reserved recapitalization of the Newco, for an amount equal to 529 million euros, 443 of which intended for the reduction of the company's financial debt.
After the capital increase, Astm and Sias will indirectly hold a 64,1% share of the share capital of the company while the remaining 35,9% will remain in the hands of CR Almeida.
The share capital of the Newco will be divided into ordinary shares (71,8% of the share capital) and preference shares, without voting rights (28,2% of the share capital). The former will be held 50% by CR Almeida and 50% by Astm and Sias, while the preference shares will be wholly owned by Astm and Sias.
