Brazilian port operator CLI concluded the payment of 1.4 billion reais ($263.43 million) on Monday to railway company Rumo SA (RAIL3.SA) for control of a grain terminal in Santos port. The deal is being funded by the acquisition of a 50% stake in CLI, formally Corredor Logistica e Infraestrutura, by Australia’s Macquarie infrastructure Partners from Brazilian private equity firm IG4. The acquisition of the grain terminal in Santos, Latin America’s largest port, will more than double CLI’s net revenue, to around 470 million reais pro forma this year, said CLI’s Chief Executive Officer Helcio Tokeshi. The port operator is also looking into other acquisition targets among grain and fertilizer port terminals, Tokeshi said.
Source: Reuters