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Brazil's Triunfo sells port to partner MSC -source
June 19, 2017 / 9:44 PM / 6 months ago

Brazil's Triunfo sells port to partner MSC -source

SAO PAULO, June 19 (Reuters) - TPI Triunfo Participações & Investimentos SA has agreed to sell a 50 percent stake in a port terminal to partner MSC Mediterranean Shipping Co SA’s TIL unit, a key step towards advancing the debt-laden Brazilian infrastructure firm’s turnaround, a person familiar with the matter said on Monday.

According to the person, Triunfo sold the 50 percent it has in Terminal Portuário de Navegantes SA for 1.3 billion reais ($396 million) to TIL, which with it had been partners since 2001. The transaction still hinges on antitrust and port industry regulatory approval, the person said.

São Paulo-based Triunfo declined to comment.

$1 = 3.2819 reais Reporting by Guillermo Parra-Bernal; editing by Diane Craft

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