A major deal in the mobility sector is expected to shake up Rio de Janeiro's infrastructure. NeoFeed has learned that Mubadala Capital has hired Santander to find buyers for its stake in HMobi, the company that controls the MetrôRio and MetrôBarra concessions.
Mubadala Capital holds a 51.5% stake, and the concessions are long-term, extending until 2048. "It's a good asset that was recently renewed," says a source familiar with the deal. Still in the preliminary phase, in an initial exploration process, the search for interested parties is expected to continue for several months.
The sale of this business is happening primarily because Mubadala Capital intends to divest itself of a company that was, in fact, transferred to the management firm. The concessionaire was transferred to Mubadala Capital in 2021 due to a debt of R$ 2.6 billion owed by Invepar.
At the time, the transfer allowed Invepar to pay off R$ 1.8 billion of its debt to its creditors, including Mubadala Capital. After that, the company was renamed HMobi, and the remaining 48.5% was held by the pension funds Previ, Funcef, and Petros.
In the first quarter of 2026, the company transported 41.6 million paying passengers, had net revenue of R$ 333 million, an EBITDA margin of 47.5%, and a profit of R$ 19.1 million. Leverage, measured by net debt versus EBITDA, is 2.9 times.
NeoFeed was unable to contact Mubadala Capital's press office. The space remains open for their statement.
