Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

CCR Drops as Brazil Transportation Agency May Cut Returns

Nov. 4 (Bloomberg) -- CCR SA, Brazil’s biggest toll-road operator, dropped the most in more than a week on concern the national transportation agency will reduce the return rate the company gets from the Via Dutra highway.

CCR fell 1.5 percent to 46.85 reais at the close of trading in Sao Paulo, the steepest decline since Oct. 25. The benchmark Bovespa stock index added 0.8 percent.

The company gets a 17.9 percent return from Via Dutra, the highway connecting Sao Paulo with Rio de Janeiro, and the government wants to cut it to 7 percent, O Estado de Sao Paulo newspaper reported, citing Bernardo Figueiredo, head of the transportation agency known as ANTT.

ANTT’s press officer, who asked not to be identified in accordance with company policy, confirmed the information in Estado’s report. CCR didn’t immediately comment.

The highway needs about 2 billion reais ($1.1 billion) in investments, according to Estado. If the government fails to reach an agreement with CCR it may decide to end the contract with the company, the newspaper reported.

The Brazilian Association of Concession Road Operators, known as ABCR, said in an e-mailed statement that it considers the negotiations between the government and the highway operators to be normal.

To contact the reporter on this story: Fabiola Moura in New York at fdemoura@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.