Azevedo & Travassos (AZEV3), through its subsidiary Azevedo & Travassos Investimentos S.A. (ATI) and controlled company Aviva Ambiental, executed in 2026 an agreement to sell its equity interest representing control of the concessionaire Jacundá Ambiental. Under the terms of the transaction, Aviva Ambiental will be entitled to receive R$ 2,200,000, corresponding to its portion of the acquisition price, to be paid in full in cash at closing.
In addition to this initial amount, Aviva Ambiental will be entitled to its portion of any earn-out provided for in the agreement, corresponding to 50% of the contingent economic benefit to be paid to the sellers, capped at R$ 2,700,000, as set forth in the share purchase agreement (SPA). Completion of the transaction is subject to the fulfillment of customary conditions precedent for this type of deal, including approval of the new controlling shareholder by the granting authority, in accordance with sector regulations.
According to the announcement, the transaction reinforces ATI’s strategy of operating as an infrastructure investment platform, based on the origination, development and disciplined divestment of assets. This divestment, combined with the recent sale of stakes in Sanessol and Buriti, is presented as evidence of ATI’s ability to execute full investment cycles with value creation, in line with its dynamic capital allocation strategy.
The proceeds from the sale of control of Jacundá Ambiental will be allocated in accordance with Azevedo & Travassos’ capital allocation guidelines, including supporting new investments and honoring strategic commitments already undertaken. The company also reports that ATI remains active in managing its portfolio, continuously assessing investment and divestment opportunities.
