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)