Brazil’s largest operator is reconsidering Imbituba assets

Sale mooted: The strategy for the Imbituba assets could include attracting strategic partners, or they could be sold off completely Sale mooted: The strategy for the Imbituba assets could include attracting strategic partners, or they could be sold off completely
Industry Database

Brazil's largest terminal operator is reconsidering its assets at the Port of Imbituba with a possibility they could be sold off.

Santos Brasil Participacoes SA’s board of directors have voted to start looking at “strategic alternatives” for Tecon Imbituba and the Imbituba General Cargo Terminal in Santa Catarina.

Daniel Pedreira Dorea, chief financial and investor relations officer, said in a statement that the company “periodically evaluates different business development strategies.”

“The evaluation this time will be made objectively and with a defined focus,” he said.

Different strategy

He said that the different strategies being evaluated could include attracting partners or strategic partners, as well as the disposal of assets.

Whichever alternative which brings greater value to the company and its shareholders is the one that will be adopted.

The operator said that there are no ongoing negotiations at present with any third party for the sale of the assets and it has not received any acquisition offer, binding or otherwise, for the sale of said assets.

Finally, in the interest of its shareholders, the operator said it wouldn’t comment further on the subject until there is something concrete and significant to announce to the market or until there is a fresh deliberation on the matter by its competent corporate bodies.

The Brazilian operating giant took on its Tecon Imbituba concession back in 2008.

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