Starboard Partners-backed Via Appia is studying the acquisition of CCR RodoAnel, according to a teaser seen by Infralogic.

The acquisition would be part of Via Appia’s expansion plan which also comprises studies for the acquisition of SPMar and ViaRodon highway operators, according to the document.

CCR RodoAnel owns a concession to operate the 30 km (18-mile) western stretch of São Paulo’s Rodoanel ring road.

The highway will be connected to the future northern stretch of Rodoanel (Rodoanel Norte). Via Appia won the auction to build and operate Rodoanel Norte in 2023.

Brazilian transportation conglomerate CCR owns CCR RodoAnel.

CCR stated that it is constantly “reviewing its portfolio and analyzes new business opportunities, always with a selective approach and taking into account its risk matrix”.

SPMar’s concessions also has synergies with Rodoanel Norte as the company operates Rodoanel’s south and east stretches, totaling 116.7 km.

ViaRondon operates a 416 km highway complex including Marechal Rondon highway and access highways. Marechal Rondon crosses the state of São Paulo western region, connecting the city of Bauru to Castilho, on the border with the state of Mato Grosso do Sul.

“This is an aggressive plan and they are fulfilling the initial part of it with the acquisition of AB Concessões,” a source familiar said.

AB Concessões acquisition was also mentioned in the document. Via Appia closed the transaction on 27 May. The deal comprised the Colinas and Nascente das Gerais highway concessions, with 367km and 371km, respectively. Road maintenance company Soluciona and a 50% stake in Rodovias do Tietê were also part of the deal.

Via Appia acquired the concessionaire from Italy’s Atlantia and the Brazilian group Bertin. Bertin also owns SPMar.

Starboard Partners’ teaser foresees potential bids for concession projects that are still under initial studies by local authorities. The document mentions Rota dos Romeiros, a project that would link Marechal Rondon highway to São Paulo’s Rodoanel, and Linha Verde, a new highway connecting São Paulo to the Port of Santos.

The expansion plan foresees an initial public offering (IPO) as Starboard Partners’ final step with Via Appia, according to the teaser.

Via Appia declined to comment on the matter. ViaRondon and SPMar did not respond to requests for comments.