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Brazil: Top sugar tycoon heads for rail freight dominance

 |  April 16, 2014

The world’s top sugarcane company, Cosan, is reportedly entering the top levels of Brazil’s rail freight transport industry after striking a $3 billion deal to acquire train operator America Latina Logistica.

Cosan, run by tycoon Rubens Ometto, has been strategizing to increase its logistics operations. ALL will merge with Cosan’s logistics company Rumo. Under terms of the deal, reports say Rumo shareholders will own a 36.5 percent stake in the operations.

The company won approval by ALL’s majority shareholders, the operator said Tuesday.

The acquisition will need to be cleared by Brazil’s land transportation watchdog ANTT as well as antitrust regulator CADE.

Full Content: Bloomberg

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