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International Container Terminal Services, Inc. is further expanding its presence in Brazil with the acquisition of dry bulk port concessions for two terminals in Aratu Port, Bahia, Brazil
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ICTSI, through its wholly owned subsidiary ICTSI Americas B.V., signed on July 23 a stock purchase and sale agreement with Simpar S.A. and CS Brasil Holding e Locação S.A. to acquire 100% ownership of HSIM Participações e Holding Ltda.
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HSIM owns 100% of ATU12 Arrendatária Portuária SPE S.A. and ATU18 Arrendatária Portuária SPE S.A., which holds the rights to operate the ATU12 and ATU18 terminals, respectively
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The total purchase consideration is BRL650 million (approximately US$130 million), which will be paid in cash and was negotiated and determined based on a discounted cash flow method
International Container Terminal Services, Inc. (ICTSI) is further expanding its presence in Brazil with the acquisition of dry bulk port concessions for two terminals in Aratu Port, Bahia, Brazil.
ICTSI said in a regulatory disclosure that its wholly owned subsidiary ICTSI Americas B.V. signed on July 23 a stock purchase and sale agreement with Simpar S.A. and CS Brasil Holding e Locação S.A. to acquire 100% ownership of HSIM Participações e Holding Ltda. (HSIM).
HSIM owns 100% of ATU12 Arrendatária Portuária SPE S.A. and ATU18 Arrendatária Portuária SPE S.A., which holds the rights to operate the ATU12 and ATU18 terminals, respectively.
The total purchase consideration is BRL650 million (approximately US$130 million), which will be paid in cash and was negotiated and determined based on a discounted cash flow method. The transaction is subject to the usual conditions, including applicable regulatory approvals and other closing conditions.
ATU12 and ATU18 are two adjacent port terminals located at Aratu Port in the State of Bahia, northeastern Brazil. The terminals primarily handle the import and export of agricultural products. Operating under long-term public lease agreements, ATU12 and ATU18 have recently completed a comprehensive modernization and expansion program, positioning them to support the region’s growing agricultural trade and increasing cargo volumes.
ICTSI said the acquisition will expand its presence in Brazil and strengthen its participation in the country’s strategically important agricultural trade.
ICTSI is currently present in Brazil through Rio Brasil Terminal, which operates Container Terminal 1 at the Port of Rio de Janeiro, and Tecon Suape S.A., which operates Suape Container Terminal in Pernambuco. ICTSI also operates CLIA Pouso Alegre, an off-dock customs bonded facility in Minas Gerais.
ICTSI has also recently completed the acquisition of Companhia Regional de Armazéns Gerais e Entreposto Aduaneira (CRAGEA), which provides general and bonded warehousing, and multimodal logistics services.
READ: ICTSI acquires Brazilian logistics firm CRAGEA
Last year, ICTSI, through its wholly-owned subsidiary, ICTSI Americas B.V., acquired a 47% interest in Inhaúma Fundo De Investimento Imobiliário – FII, which has perpetual rights in a property that has approximately 32 hectares of inactive shipyard. The property, which is adjacent to ICTSI Rio, will be used in the immediate future as additional capacity for the terminal’s existing operations, and as future development of a private use terminal.
READ: ICTSI income grows 23% to over $1B as ports handle more cargo
