Rumo sells half of terminal shares at Santos Port for R$ 600 million

Rumo has sold half of the shares of Terminal XXXIX (T-39), located on the Right Bank of the Port of Santos, in Ponta da Praia, to a joint venture formed by Bunge Alimentos and Zen-Noh Grain Corporation. The value of the deal, which still requires regulatory approvals, is R\$ 600 million, and the acquisition is expected to facilitate grain exports, especially to Japan.

When contacted, Bunge confirmed the information. "With this operation, the companies expect to gain greater logistical flexibility in an important export corridor in Brazil", Bunge said.

T-39 is specialized in soybean, corn and meal operations, providing reception, storage and shipping services.

Zen-Noh Grain Brasil was established in 2015 as a subsidiary of the american corporation, which, in turn, is a subsidiary of the National Federation of Agricultural Cooperatives Associations, Zen-Noh.

Zen-Noh is responsible for marketing and supply chain of the JA Group (Japan Agricultural Cooperatives).

Statement

Rumo issued a statement to the market informing that it "has entered into an agreement for the sale of its 50% equity interest in T-39 to the consortium formed between Bunge and Zen-Noh Grain".

The note also states that the company's objective with the sale is to invest in railway infrastructure.

"The divestment of the stake in T-39 represents a move towards financial discipline and capital recycling, strengthening the company's cash position to focus efforts on projects that support the ongoing capacity increase program and strengthen the structural competitiveness of the railway mode".