December 10, 2012 / 7:08 PM / 5 years ago

Brazil antitrust clears Impregilo sale of EcoRodovias stake

MILAN, Dec 10 (Reuters) - Italy’s biggest builder Impregilo said on Monday the Brazilian competition regulator had approved the sale of a 19 percent stake in Brazil-based EcoRodovias.

In a statement Impregilo said the regulator had cleared the operation unconditionally.

In October Impregilo accepted an offer from Brazilian builder Primav Costrucoes for the stake in EcoRodovias worth just over 2 billion reais, or about 765 million euros ($988.84 million).

Earlier this month Impregilo, controlled by smaller family-owned peer Salini, said cash stemming from the sale of stakes in EcoRodovias and its Fisia units will fund the payment of dividends worth more than 40 percent of profits. ($1 = 0.7736 euros) (Reporting By Stephen Jewkes)

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