Odebrecht TransPort, the transportation infrastructure arm of Brazilian construction and engineering group Odebrecht, sold in December 2013 a 10.6% stake in the company to BNDESpar, the investment arm of Brazil's national development bank BNDES.

The transaction is valued at R$1 billion (US$424 million), the company said in a release. The deal implies a total valuation of around US$4.3 billion for the company.

Odebrecht TransPort's previous shareholder make up was Odebrecht 70% and FI-FGTS, the investment branch of the public pension fund FGTS, 30%. After this deal, the new breakdown is Odebrecht 59.4%, FI-FGTS 30%, and BNDEspar 10.6%, the release said.

Odebrecht TransPort is currently carrying out 18 projects in the areas of urban transportation, highways, airports, and logistics. Odebrecht TransPort won an auction process in late November 2013 to expand and operate Antônio Carlos Jobim (Galeão) airport with a US$8.38 billion bid. The firm recently got the concession contracts for BR-163/MT road concession and Goiânia - Anhanguera light rail line, which add around US$1.6 billion in investments during the next five years.

The press release said that Odebrecht is sticking to its policy of encouraging new business partners in order to finance growth and strengthen all companies within the group.