July 3, 2020

 

IG4 to buy Brazil's Itaqui port grain terminal

 

 

IG4 has inked a deal with Brazil's CGG Trading and its creditors to purchase CLI, which owns one of the largest grain terminals in the country in Itaqui's northern port, the private equity fund announced on Thursday, Reuters reported.

 

The deal includes the restructuring of US$236 million in debt owed by CGG Trading and conversion of part of the debt into equity.

 

At the end of the different transactions, IG4 will control the terminal, one of the largest in Brazil used for soybean and soybean meal exports coming from the northern states, the fund said in a statement.

 

CGG Trading's creditors are Banco Bradesco SA, Banco Votorantim, Banco Santander Brasil, Banco do Brasil SA, Rabobank, ABN Amro, Bank of China and Metlife Inc, the fund said.