Agribrasil purchases majority stake in TESC
Agribrasil purchases majority stake in TESC
São Paulo, February 18, 2022. Humberg Agribrasil Comércio e Exportação de Grãos S.A. (“Agribrasil”, “Company” – B3: GRAO3), in compliance with the provisions of Art. 157, §4, of Law 6,404/76 and CVM Resolution 44, informs, in addition to the Material Fact disclosed on 10/29/2021, it has been concluded, on February 17, 2022, the acquisition of holding Nityam Empreendimentos e Participações S.A., (“Nityam”), which beholds, directly and indirectly, 62.96% of TESC – Terminal Santa Catarina S.A. (“TESC”) and WRC Operadores Portuários S.A. (“WRC”) equities, after (i) statements from the Brazilian Antitrust Authority (“CADE”), (ii) approval of the transaction by the National Agency for Waterway Transportation (“ANTAQ”) and (iii) fulfillment or waiver, as applicable, of the preceding conditions outlined in the sale and purchase agreement.
The TESC Project
Agribrasil believes that the TESC grain project will contribute, besides the consolidation of Agribrasil as an independent national platform of origination, to raise São Francisco do Sul Port grain export capacity by up to 7,000,000 (seven million) tons per year.
Additionally, the Company announces that remodeling works have started and must be delivered within the first half of 2023.
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