STP is the leading electronic toll collection (ETC) company in Brazil with approximately 90% market share of the Brazilian ETC market. STP is responsible for the billing, collection and distribution of toll proceeds from the end users to the toll roads. The company’s customers use an onboard unit, or tag, which communicates with data sensors set up along toll roads to automatically charge for usage of roads, highways and bridges. In March 2016, we entered into an agreement to sell the entirety of CIPEF VI’s stake in STP to a company controlled by FleetCor Technologies, a leading global payment products company listed on the New York Stock Exchange.
