June 18, 2020 / 10:11 PM / 25 days ago

Private equity firm IG4 to acquire Brazil's grain terminal in Itaqui port- statement

SAO PAULO (Reuters) - Private equity fund IG4 has signed a deal with Brazil’s CGG Trading and its creditors to acquire CLI, a company which owns one of the largest grain terminals in the country, in the northern port of Itaqui, the fund said in a statement.

The deal includes the restructuring of $236 million in debt owed by CGG Trading and conversion on part of the debt into equity.

IG4 will also pay an undisclosed value to buy a stake on the port given as collateral to CGG’s creditor banks.

Reporting by Tatiana Bautzer

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