CLI concludes terminal acquisition from Rumo in Brazil

Corredor Logistica e Infraestrutura (CLI) has closed the acquisition of an 80% stake in Elevações Portuárias (EPSA) from railway operator Rumo for round R$1.4bn ($260m).

EPSA operates the T16 and T19 terminals on the Port of Santos (SP), Brazil.

This deal is facilitated by the takeover of a 50% curiosity in CLI by Australia-based Macquarie Infrastructure Companions (Macquarie) from Brazilian non-public fairness firm IG4.

The transaction consists of an 80% curiosity in two of the biggest grains and sugar terminals transferring to CLI.

To assist greater than 20% development within the quantity of the grain dealt with by the terminals, the contract consists of R$600m ($112m) in further investments within the upcoming years.

Presently 100% owned by funds managed by IG4 Capital (IG4), CLI will bear a capital enhance.

Macquarie has subscribed to a capital enhance of greater than R$500m ($93m) for the corporate.

Now, IG4 and Macquarie will collectively management CLI, which can in flip management EPSA by way of its 80% stake. Rumo will proceed to personal the remaining 20% stake within the firm.

CLI CEO Helcio Tokeshi was quoted by Reuters as saying that the Australian group and IG4 may have two board members within the firm every whereas a fifth member can be unbiased.

Rumo divested the stake within the firm to advertise long-term alliances in addition to give attention to rail logistics and implement strategic enlargement tasks.

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