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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Grupo CCR    CCRO3   BRCCROACNOR2


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Grupo CCR : Material Fact – Process regarding the takeover of the operation and maintenance of the RJ-124 Highway (ViaLagos)

10/23/2020 | 08:58pm EST
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  • Material Fact - Process regarding the takeover of the operation and maintenance of the RJ-124 Highway (ViaLagos)


CCR S.A. ('CCR' or 'Company') (B3: CCRO3; Bloomberg: CCRO3BZ; Reuters: CCRO3.SA) hereby informs its shareholders and the market in general that, on October 22, at a plenary session, the Rio de Janeiro State Legislature approved Legislative Indication 305/2020 ('Legislative Indication'), requesting the Governor of the State of Rio de Janeiro, Mr. Cláudio Bonfim de Castro e Silva, to submit a Bill authorizing the nationalization of the operation and maintenance of Highway RJ-124, whose concession is held by Concessionária da Rodovia dos Lagos S.A. (ViaLagos), a CCR subsidiary.

The Company point out that a legislative indication is different from a bill: the former is merely a suggestion of the Legislature to the Head of Executive.

The Legislative Indication has already been analyzed by the Rio de Janeiro State Department of Transportation, through Official Letter SECVG/IL 969/2020, which opposed the request for nationalization, since 'it lacks tangible grounds and justifications, such as data, information and studies that technically and financially support the opportunity for nationalization, in a way that clearly indicates the necessity, opportunity and convenience for nationalization', in addition to having a great impact on the provision of services and bringing legal, institutional and regulatory insecurity, as it destabilizes the regulatory framework and drives national and international investors away.

According to article 37 of Law 8.987/95 (Concession Law), nationalization is only possible by means of a specific authorizing law initiated by the Head of Executive - in this case the Governor of the State of Rio de Janeiro - upon prior payment of compensation and loss of profits to the concessionaire.

The statement of the Rio de Janeiro State Transportation Secretariat reinforces compliance with the applicable legislation and with the terms of the Concession Contract signed, strengthening the regulatory framework and attracting investments to the State.

São Paulo, October 23, 2020.

CCR S.A.Waldo Perez
Investor Relations Officer


CCR SA published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2020 00:49:01 UTC

© Publicnow 2020
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