Brazilian Road Operator Files for Public Status

Triangulo do Sol Auto-Estradas, a Brazilian road operator, has registered to become a public company, according to the CVM, the first step in processes for both public bond sales and IPOs. An official at Triangulo, a 442km concession in Sao Paulo state, was unavailable for additional comment. Last month Triangulo raised BRL620m ($312m) in 1.5-year bonds, under the rule 476 restricted format, for which public status is not necessary. In February, Italy’s Atlantia, the concession’s owner, placed Triangulo in a joint venture it formed with Bertin.