By Brazil Stock Guide – Motiva has signed an agreement to acquire 100% of Autopista Fernão Dias, the concessionaire responsible for operating the BR-381 highway, a major transport route connecting São Paulo and Minas Gerais. The deal is valued at approximately 381.4 million reais ($76 million), with a potential price adjustment of 19.6 million reais pending review by Brazil’s federal audit court.
The transaction follows a competitive process overseen by the National Land Transport Agency (ANTT) and represents Motiva’s entry into one of Brazil’s most strategic logistics corridors, serving industrial, agricultural and distribution hubs.
In a statement, the company said the asset aligns with its capital allocation strategy and long-term growth plans. “The asset is located in a relevant economic corridor, bringing together key industrial, agricultural and logistics hubs, reinforcing its attractiveness and demand resilience,” Motiva said.
Motiva won the concession in a December 2025 auction at São Paulo’s B3 exchange after offering a 17.05% discount on toll tariffs. The contract extends the concession for an additional 15 years and includes planned investments of 9.5 billion reais, alongside estimated operating costs of 5.4 billion reais over the period.
As part of the agreement, Motiva will compensate current operator Arteris SA (ARTR3 BZ). The bid documents set the payment at 295 million reais, subject to adjustments based on the concessionaire’s debt and cash position at closing.
The BR-381, also known as Fernão Dias, is a critical freight route in southeastern Brazil, supporting heavy cargo traffic and regional economic integration.
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