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Welcome to our bi-weekly newsletter, where we share news about Votorantim and the companies in our portfolio, along with updates and insights about the market.

Motiva announces sale of airports

Motiva has announced the sale of its airport platforms to the Mexican group Asur, in line with its capital-recycling strategy to simplify its asset portfolio and focus growth on highway and rail concessions (trains, subways, and light rail). Under the terms of the deal, the sale includes the company’s 20 airports — 17 in Brazil and 3 abroad (Ecuador, Curaçao, and Costa Rica) — for a total value of R$ 11.5 billion, consisting of R$ 5 billion in equity and R$ 6.5 billion in net debt. The transaction significantly reduces Motiva’s leverage from the current 3.5x to below 3.0x and carries an Enterprise Value/Ebitda ratio of 8.8x at stake, above the company’s current multiple. The operation will also reduce the holding’s net debt and and its cost of borrowing by around 60 bps.

Completion of the transaction is still subject to regulatory approvals in the countries where Motiva Airports operates, which are expected to occur throughout 2026. Until then, day-to-day airport operations remain unchanged.

Socially Committed Company

Acerbrag received the “Socially Committed Company” Seal, awarded by the province of Buenos Aires to companies that strengthen the development of their communities. The recognition highlights the company’s commitment to the city of Bragado, especially through initiatives related to education, developed in partnership with local institutions and company teams. The seal was presented at a ceremony attended by Acerbrag’s president, the management and Institutional Relations team, as well as provincial and municipal authorities.

Recognition in awards

We were recognized at the Inbrasc Award 2025, one of the most relevant in Brazil in the areas of supply chain and logistics, with the HARPI project. The solution, developed by our Center of Excellence (CoE) and adopted across the portfolio, uses AI to automate the entire purchasing process. Citrosuco was also recognized for the Coupa project as a Governance and Asset Commercialization Hub and by the Third-Party Management Committee. Additionally, CoE won awards at the Shared Services Leadership Forum (SSLF) 2025, the main national event for Shared Services Center leaders, ranking first in three categories: Overall, Maturity, and Automation.