Wednesday, June 19, 2024

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Rumo will sell stake in the terminal for R$600 million to the consortium formed by Bunge and Zen-Noh

Rumo reported on Wednesday that it has agreed to sell its 50% stake in Terminal XXXIX de Santos, a port sector company located in the Port of Santos (SP), to a consortium of Bunge Alimentos and Zen-Noh Grain Corporation.

According to Rumo, the amount relating to the stake sold amounts to 600 million reais, corresponding to an “equity value” of approximately 550 million reais. Completion of the transaction is still subject to conditions precedent, including regulatory approvals.

“The sale of the stake in T-XXXIX represents a move of financial discipline and capital recycling,” Rumo said, adding that the measure strengthens its cash flow, allowing it to focus efforts on projects that support the continued increase of capacity and strengthen the competitiveness of the railway mode.

Source: Terra

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