BRAZIL: Cosan gets US$230 million for Rumo Logistica
Published: 09/03/2010, 10:33:13 AM
Cosan SA, Brazil's largest sugar and ethanol group in terms of revenue, said Thursday that investment funds administered by TPG Capital and Gavea Investimentos invested BRL400 million (US$230 million) in the capital of its transport subsidiary Rumo Logistica SA, according to Dow Jones.
TPG Capital and Gavea Investimentos each increased their shareholdings in Rumo to 12.5% as a result of the capital input, Cosan said in a statement.
The new financial resources strengthen the capital structure of Rumo, which is investing BRL1.2 billion in expanding its transport facilities, Cosan said.