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FI-FGTS Buys 30% Stake in Odebrecht

8 October 2010

(Valor Economico) October 8, 2010 – FI-FGTS (Fundo de Investimento do Fundo de Garantia por Tempo de Serviço), the investment branch of the public pension fund FGTS, bought a 30% share in Odebrecht Transport Participações (OTPP), which focuses on transportation and logistics. The value of the transaction was not disclosed.

With entrance of FI-FGTS, Odebrecht’s participation in OTPP was reduced from 100% to 70%. A shareholders agreement was signed, and gives the FI-FGTS veto power on certain issues, which are not explained in the statement issued. FI-FGTS already partners with Odebrecht on projects including port terminals, energy and sanitation.

By Ana Paula Ragazzi and Fernando Teixeira

Visit Valor Economico to read the complete article in Portuguese.