CCR concessions are currently owned towards its nineteen special purpose companies.
CCR acquired an interest in the Concessionaires as a result of a capital increase involving the transfer of the total equity interests held by Andrade Gutierrez, Camargo Corrêa, Odebrecht, Serveng and SVE to the share capital of the Concessionaires. Generally, the Company owns all the shares of its subsidiaries except in the case of ViaLagos, an insignificant amount of shares held by the respective directors and, in the case of Rodonorte, of its shares held by other shareholders. However, there are three subsidiaries where the CCR is not the holder of all shares.
CCR owns 85.92% of the share capital of RodoNorte, with the remaining 14.08% held by local partners. The relationship between the Company and the local partner shareholders of RodoNorte is governed by a shareholders’ agreement signed on November 10, 2000, which will remain in force until RodoNorte’s concession is terminated. Under the terms of this agreement, CCR cannot transfer any of its shares in RodoNorte to a non-affiliate without first granting right of first refusal to its local partner shareholders, representing at least 80% of the capital stock.
On November 27, 2000, the Company signed a services agreement with CGMP and other holders of toll road concessions in São Paulo state (with Banco Itaú S.A. and ABCR acting as intervening third parties in the contract) for the implementation and management of an automatic vehicle identification system for electronic toll payment called “Sem Parar” for a period of 6 (six) years. CCR does not disburse any amount for these services; CGMP is remunerated by charging our users directly.
CCR provides advisory services and consulting to the Concessionaires, through companies providing services, in which we have virtually all of the share capital. Our management is responsible for defining the strategy and coordinating the operations of each of the Concessionaires. Since December 18, 2002, each concessionaire contracts general administrative services from Actua Actua Assessoria.
Actua Serviços, Actua Assessoria and Engelog, are divisions that perform the function of shared services centers dedicated to the Concessionaires, whose primary objective is to provide services to manage financial resources, securities, supply management, risk analysis, corporate and business projects, asset management services, supply management and third-party assets; provide advisory and consulting services involving operations, human resources, personnel and systems; provide management services for the data processing center and information technology; coordinate the construction and development of engineering solutions; and hold interests in other companies.