Brisa sees CCR Latam expansion

By Ian Simpson and Elisabete Tavares

LISBON (Reuters) - Brazilian toll-road operator Companhia de Concessoes Rodoviarias (CCR) (CCRO3.SA: Quote, Profile, Research, Stock Buzz) could expand this year into Chile and Mexico in its first moves outside Brazil, Brisa (BRI.LS: Quote, Profile, Research, Stock Buzz) Chief Financial Officer Joao Coutinho said on Tuesday.

The move by CCR, Latin America's biggest highway operator and 17.9 percent held by Brisa, will depend on whether Brazil's plans to privatize 3,000 km (1,400 miles) of highways are complicated by a general election looming in October, Coutinho said at Reuters Latin America Investment Summit.

Brisa, Portugal's biggest toll-road operator, is also weighing entering the U.S. market, either with CCR or by itself, he said.

"I believe that during this year, between Mexico and Chile, there could be CCR's first international initiative," Coutinho said.

Fellow core shareholders Camargo Correa and Serveng-Civilsan have 17.9 percent each of CCR. AG Concessoes has 17.42 percent.

He declined to say how much CCR was willing to spend for highway concessions in Brazil, Chile or Mexico. "It has to be proven that the investment will create value," he said.

FINANCIAL RESOURCES

Coutinho said CCR had the financial resources to pay for expansion but could turn to the stock market or to shareholders. CCR contributed about 29 million euros to Brisa's 297 million euros in net profits last year.  Continued...