(Adds names of creditors, details of the port operation)
By Tatiana Bautzer
SAO PAULO, June 18 (Reuters) – Private equity fund IG4 said on Thursday it has signed a deal with Brazil’s CGG Trading and its creditors to acquire CLI, which owns one of the largest grain terminals in the country, in the northern port of Itaqui.
The deal includes the restructuring of $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. (Reporting by Tatiana Bautzer; Editing by Leslie Adler)
Source: Read Full Article