Rumo to Sell Stake in Brazil Port Terminal to Bunge, Zen-Noh for $115 Million

May 29, 2024

© Stefan Lambauer / Adobe Stock
© 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)

Logistics News

PMA: Panama-Flagged Vessels Must Notify of Ship-to-Ship Transfers

PMA: Panama-Flagged Vessels Must Notify of Ship-to-Ship Transfers

Sovcomflot Plunges to $393m Loss in Q1 Amidst Sanctions

Sovcomflot Plunges to $393m Loss in Q1 Amidst Sanctions

BAE Systems Set to Open $250M Shiplift Facility in Florida

BAE Systems Set to Open $250M Shiplift Facility in Florida

Ports of Indiana, Port of Antwerp-Bruges Explore Indiana-Belgian Partnership

Ports of Indiana, Port of Antwerp-Bruges Explore Indiana-Belgian Partnership

Subscribe for Maritime Logistics Professional E‑News

Volvo Cars CEO: Customers must pay for tariff increases
Documents show that Niger intends to reduce the number of Chinese oil workers
Documents show that Niger intends to reduce Chinese oil workers