19 de octubre de 2015 / 13:36 / en 2 años

UPDATE 1-Andrade Gutierrez says not selling Brazil CCR road stake

(Recasts first paragraph to reflect Andrade Gutierrez denial of Estado story, adds additional company comment)

RIO DE JANEIRO, Oct 19 (Reuters) - Brazilian construction group Andrade Gutierrez said on Monday that it has no intention of selling its stake in Brazil’s CCR SA, an operator of toll roads, as reported earlier by Estado de S.Paulo newspaper.

“The company denies that it has made any type of offer to market agents in relation to the sale of shares in the company (CCR) at any moment,” Andrade Gutierrez said in an e-mailed response to questions.

The company also said it was not contacted by the newspaper before publication, and that it only learned of the report after other news agencies contacted it about the Estado article.

Estado said in its Monday edition that Andrade Gutierrez, struggling under the fallout of a corruption scandal at state-run oil company Petrobras, was selling its 17 percent stake in CCR SA.

Citing unnamed sources, the paper added that Andrade Gutierrez is offering the stake in the toll-road operator to international investment funds including Canada’s Brookfield group, and Singapore’s Temasek and GIC funds.

Andrade Gutierrez, the fourth-largest construction group in the country, is one of the 23 companies caught up in Brazil’s Lava Jato, or “Car Wash” price-fixing, bribery and political kickback investigation, the paper said.

After Andrade Gutierrez’s involvement in the corruption scheme was revealed, it has been unable to bid for new business and receive payment for some old contracts with Petroleo Brasileiro SA, as Petrobras is officially known. It also faces potentially large fines from the government, and some executives face jail time for their role in the case.

As Petrobras is Brazil’s largest infrastructure investor, many of the contractors named in the case have been put under financial stress. (Reporting by Jeb Blount Editing by W Simon)

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