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5 months ago
BRIEF-Greenbrier exercises options to increase strategic investments in Brazil
March 2, 2017 / 11:23 AM / 5 months ago

BRIEF-Greenbrier exercises options to increase strategic investments in Brazil

March 2 (Reuters) - Greenbrier Companies Inc

* Greenbrier exercises options to increase strategic investments in Brazil

* Greenbrier Companies Inc- A $20 million investment will be used to retire debt at Greenbrier-Maxion thereby reducing interest payments by $4 million annually

* Greenbrier - Execution of a definitive agreement concerning intent to increase ownership in Amsted-Maxion Equipamentos E Serviços Ferroviários S.A

* Greenbrier Companies Inc - Increase ownership from 19.5% to 60%

* Greenbrier Companies Inc- Will retain an option to increase its ownership in Amsted-Maxion Cruzeiro to 29.5% subject to certain conditions.

* Greenbrier Companies Inc - With option exercise, equity interest of Amsted-Maxion Fundição E Equipamentos Ferroviários S.A. will be reduced from 80.5% to 40%

* Greenbrier Companies Inc - Proceeds from increased ownership , along with loans from partners, will reduce interest costs by about $3 million per year

* Greenbrier Companies Inc - Greenbrier will increase its ownership stake in Amsted-Maxion Cruzeiro from 19.5% to 24.5% for $3.25 million Source text for Eikon: Further company coverage:

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