Banco Bradesco’s plan to dispose of its minority interest in infrastructure operator Motiva could open space for new shareholders, according to a report in Valor Econômico citing unnamed sources.

Bradesco holds 14.86% of Motiva through collateral tied to loans made to Grupo Mover, which is under court-supervised restructuring. The sale is expected once the court signs off on the recovery plan and Motiva’s shares are fully transferred to the bank.

The stake, valued at about BRL4.7bn ($860mn), sits alongside holdings owned by Soares Penido, Grupo Mover, Itaúsa and Grupo Votorantim.

Analysts say existing investors may seek to expand their positions. “Motiva is an important infrastructure investment platform in Brazil. I believe that, if one of the shareholders puts a stake up for sale, those with more capital, such as Itaúsa and Grupo Votorantim, tend to evaluate the asset with great interest,” said João Cortez of consultancy Vallya.

Motiva has projected BRL160bn in investment capacity over the next decade across road concessions and passenger rail. The company operates 12 highway concessions and five urban railway contracts.

In November, it agreed to sell its airport assets to ASUR for BRL11.3bn, a move aimed at concentrating resources on roads and mobility.

Cortez said Motiva is unlikely to pursue aggressive bidding in future auctions due to its publicly listed structure.