Simpar sells Bahia port terminals to ICTSI in R$1.8 billion deal

Brazilian holding company Simpar has agreed to sell its CS Porto Aratu subsidiary to International Container Terminal Services (ICTSI) in a transaction valued at R$1.8 billion.

Under the agreement, ICTSI will make R$750 million in cash payments, including R$650 million when the transaction closes and an additional R$100 million performance-based payment beginning 18 months after completion.

CS Porto Aratu operates terminals 12 and 18 at the Port of Aratu, in Candeias, Bahia state. The facilities have annual handling capacity of 9.5 million metric tons and have received more than R$900 million in investment.

The transaction remains subject to customary closing conditions, including approval from Brazil’s antitrust regulator, Cade, and authorization from the relevant concession authority.

Source: Valor Econômico

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