Investing in Brazil for the first time, Italy’s Grupo Gavio, a family-controlled holding company that operates an extensive road network, has set up an investment platform (“Newco”) with CR Almeida, a Brazilian family-controlled company that owns 64% of toll road operator EcoRodovias and the Ponte Rio Niteroi bridge concession.

Grupo Gavio will put Reais 2.224 billion (US$548 million) into Newco. CR Almeida will put in the 64% of EcoRodovias that it owns. The other 36% of EcoRodovias trades on the Sâo Paulo stock exchange.