Asian groups in talks over stake in Brazil railway concession
Three Asian groups are reportedly in talks with Brazilian logistics company Rumo over buying a minority stake in the Malha Sul railway concession.
Japanese group Sumitomo is engaged in more advanced talks with Rumo regarding the acquisition, while Japan's Mitsubishi and China's CCCC also have shown interest, reported O Estado de S. Paulo newspaper, citing unnamed sources close to the operation.
With an extension of 7,208km, Malha Sul railway is strategic for the flow of grain in the southern region of the country. The railway is demanding an investment of at least 6bn reais (US$1.4bn) for improvement works.
Rumo is currently in talks to anticipate the renewal of the railway concession and Sumitomo is interested to buy a 30% stake.
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