Cosan buys port in Maranhão and partners to invest in mining – Economy

the fuel giant cosan announced yesterday a new strategy for investments, through which you can enter into new businesses. This movement already includes, according to the company, the presentation of a proposal for the acquisition of 100% of the TUP São Luís, private use port terminal located in the capital of Maranhão, for BRL 720 million, in addition to the formation of a partnership in the mining.

The offer for the port was sent by Atlântico – a subsidiary of Cosan – to São Luís Port Company, of the Chinese company CCCC, and the minority shareholders who add 49% stake in the terminal, said the company. The closing of the transaction is subject to conditions such as regulatory and competition approvals, as well as CCCC corporate approvals.

In addition, the initiative involves the signing of a memorandum of understanding, also through Atlântico, to enter the mining area through a joint venture with Grupo Paulo Brito, controller of Aura Minerals, which will explore iron ore for shipping through the port.

The memorandum provides that Atlântico will hold 37% of the total capital and shared control of the new company – that is, 50% of the company’s common shares. The first mineral project to be explored by the joint venture is located near Parauapebas (PA), in the Carajás region, connected to the port by the Carajás railway, and exploration is scheduled to start in 2025.