Itausa and Votorantim have presented a non-binding offer to acquire shares held by Andrade Gutierrez Participações SA in CCR SA, Brazil.

The proposal considers 300,149,836 shares of CCR representing 14.86% of capital. The transaction is valued at BRL4.1 billion (US$860.33 million). Founded in 1990, CCR operates in the segments of highway concession, urban mobility, airports, and services. It is one of the largest infrastructure and mobility concession companies in Latin America.

Out of 14.86% share, Itaúsa will acquire 208,669,918 shares representing 10.33% of CCR's total capital with an investment of BRL2.9 billion (US$609 million).