Brazilian infra firm CCR sells airport stake for US$140mn
One of Brazil’s largest infrastructure groups, CCR, concluded the US$144mn sale of its 70% stake in US-based airport service provider Total Airport Services (TAS) to AGI-CFI, controlled by Alliance Ground International.
"This transaction is part of CCR’s continuous strategy of portfolio review and capital allocation, contributing to its qualified growth strategy, capital discipline and socioeconomic and environmental development of the regions in which it operates," CCR said in a statement.
TAS focuses on aircraft ground-handling, cargo storage, and terminal operation, while CCR is sharpening its Brazil focus amid rising inflation.
"Right now, our full focus is on our projects in Brazil and on the evaluation of new projects that are being offered by the federal and state governments," CEO Marco Antônio Cauduro (pictured) told BNamericas in an interview in mid-June.
CCR holds highway and airport concessions, and develops urban mobility. It still has interests in the concessionaires of the international airports of Quito, Ecuador, San José in Costa Rica, and in Curaçao in the Caribbean.
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