November 28, 2019 / 10:39 PM / 13 days ago

Brazil court annuls auction awarding Sao Paulo subway line to CCR

SAO PAULO, Nov 28 (Reuters) - A Brazilian court canceled an auction that had awarded infrastructure firm CCR and its partner a concession to operate Sao Paulo’s line 15 subway, the company said in a securities filing.

CCR held 80% in the consortium that won the bidding for the metro line, while RuasInvest Participacoes held 20%.

The company did not state the reasons for the court’s decision but specified that CCR itself was not a party to the legal proceedings.

The ruling can be appealed, it said. (Reporting by Aluisio Alves and Jake Spring; Editing by Sandra Maler)

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