Brazilian port operator CLI concludes acquisition of Santos terminal from Rumo

Centrale del Latte d'Italia SpA

14/11/2022 20:59

By Tatiana Bautzer
       SAO PAULO, Nov 14 (Reuters) - 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 company said.
    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. 
    In an interview with Reuters, CLI's Chief Executive Officer
Helcio Tokeshi said the Australian group will have two board
members in the company, IG4 will also have two members and a
fifth will be independent.
    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, Tokeshi added.
Earnings before taxes, depreciation and amortization, a gauge of
operational profit known as EBITDA, will reach around 390
million reais annually, Tokeshi added. 
    The port operator is also looking into other acquisition
targets among grain and fertilizer port terminals, Tokeshi said,
without elaborating. 
    The deal to sell a 50% stake in CLI to Macquarie and the
subsequent acquisition of Rumo's port terminal was first
announced in July.
($1 = 5.3146 reais)
 (Reporting by Tatiana Bautzer)
 ((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob:
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