Mota-Engil Brasil, a subsidiary of Portuguese construction group Mota-Engil, has acquired a majority stake in Brazilian construction company Empresa Construtora Brasil, the group said Sunday in a regulatory filing.
Under the terms of the agreement made public by Portuguese market regulator CMVM, the Portuguese group acquired a minimum controlling stake for 52.6 million reals (around 19.4 million euros) and also agreed to apply part of that figure to increase the company’s capital.
Also according to the statement conclusion of the deal depends on a number of conditions that are expected to be met within the next two months.
Empresa Construtora Brasil, established 67 years ago and with its headquarters in Belo Horizonte, Minas Gerais, specialises in several areas of road, rail, industrial and mining, and dam construction as well as road concessions. (macauhub)