EcoRodovias Adds Port Assets

Brazil’s EcoRodovias has agreed to spend BRL540m ($268m) to purchase a stake in a set of container terminal and logistics assets at the Santos port, it says. In the deal, the infrastructure and logistics operator acquires 41.29% of Aba Porto, a holding vehicle for the Tecondi complex, from its owners. It also has the opportunity to acquire 100% of Aba within 12 months at the same per-share price. To fund the purchase, EcoRodovias plans to raise BRL550m in 1-year bonds in Brazil’s local market, in a transaction paying 108% of the DI and managed by BTG Pactual and Itau. The company does not respond to requests for additional comment.