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RUMO TO SELL STAKE IN BRAZIL PORT TERMINAL TO BUNGE, ZEN-NOH FOR $115 MILLION

May 29, 2024

© Stefan Lambauer / Adobe Stock


Brazilian railway operator Rumo agreed to sell its 50% stake in a terminal at
the Santos port to a consortium formed by Bunge's local unit and Zen-Noh Grain
Corp for 600 million reais ($115.3 million), it said on Wednesday.

In a securities filing, Rumo said it had tied up the binding agreement to sell
its stake in the XXXIX terminal, at the largest port in Latin America. Santos is
known for shipping out coffee and other commodities.

Rumo added the sale reinforces the firm's strategy to improve its cash position
and concentrate efforts on projects to boost capacity and make its railways more
competitive.




($1 = 5.2018 reais)

(Reporting by Andre Romani; Editing by Kylie Madry)

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