BRASILIA, March 15 (Reuters) - U.S. group FleetCor Technologies Inc. agreed to buy Brazil’s largest electronic toll road payment company Sem Parar for 4.086 billion reais ($1.12 billion) through a local subsidiary, one of Sem Parar’s shareholders said on Tuesday.
Highway concession operator CCR SA said it reached an agreement with other shareholders to sell Serviços e Tecnologia de Pagamentos S.A., as Sem Parar is formally known, to FleetCor-owned DBTrans Administradora de Meios de Pagamento Ltda, a Brazilian toll road operator.
CCR owns 34.2 percent of Sem Parar and will receive 1.4 billion reais ($382.52 million) for the deal, it said.
The deal is pending approval by Brazilian antitrust regulators, CCR said.
Other Sem Parar shareholders include North American fund Capital Group and Raizen, a joint venture between Brazilian sugar and ethanol group Cosan SA Industria e Comercio and Royal Dutch Shell PLC.
$1 = 3.6599 Brazilian reais Reporting by Silvio Cascione Editing by W Simon