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Brazil: Sugar transport merger plans forged

By  |  February 24, 2014

Brazil-based sugar processor Cosan announced plans to combine its transportation operations with Latin America’s largest rail-shipping firm, say reports.

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    Cosan’s Ruo transportation will merge with ALL America Latina Logisitica, Cosan said Monday. The transaction will result in ALL shareholders owning a majority of the newly formed firm.

    In return, Cosan will name the new company’s board members.

    The deal remains subject to approval by competition regulator CADE as well as ALL stake holders.

    Financial details of the merge were not disclosed, though reports say the deal follows Cosan’s 2012 acquisition of shares in ALL for $382 million.

    Full Content: Wall Street Journal

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