Rumo sells 50% stake at Port of Santos terminal
May, 31, 2024 Posted by Gabriel MalheirosWeek 202422
Rumo, a leading logistics operator in Brazil, announced the sale of a 50% stake in Terminal XXXIX in Santos to a consortium formed by Bunge Alimentos and Zen-Noh Grain Corporation. The transaction is valued at R$600 million.
The equity value of the stake, approximately R$550 million, is subject to the terms and potential adjustments outlined in the agreement. Rumo has stated that the completion of the transaction is contingent upon the fulfillment of certain precedent conditions, including obtaining legal and regulatory approvals.
In a statement, Rumo highlighted the strategic importance of the sale: “The sale of the stake in Terminal XXXIX represents a move towards financial discipline and capital recycling. This strengthens the company’s cash position, allowing us to focus on projects that support our ongoing capacity increase program and enhance the structural competitiveness of the railway sector.”
Source: Terra
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