The EcoRodovias Group exercised its call option on a 58.71% share in the Tecondi Complex today. The purchase operation of 41.29% of the shares was announced May 18 and included a call option for the remaining share in up to 12 months.
The R$ 1.3 billion business was paid with 30% of own capital and 70% of third party resources, which includes a R$ 600 million issue of Ecoporto debentures, a holding created to control the operation.
Located on the right margin of the Port of Santos, the Tecondi Complex – which includes three dock berths, extending a total of 703 meters, and five storage yards totaling a retro area of 181 thousand m2 – is comprised of the Tecondi, Termares and Termlog companies and today has a 16% market share in Port container movement, positioning it as the third biggest port terminal in the region.
With the Plataformas Logísticas Cubatão e Imigrantes and other Elog Sudeste units, all located within a 200 kilometer radius of the Tecondi Complex, EcoRodovias now has the biggest retro area in the Port of Santos and can optimize wharf operation transferring part of the stored volume in the terminal to these areas.
The investments projected in the Tecondi Complex now include the purchase of new equipment (portainers and RTGs) and the rearrangement of the area, maximizing terminal operations. Acquisition of the portainers aims at increasing productivity at the terminal, making it better prepared to serve clients.
Container cargo was responsible for 35% of total movement in Santos last year. With the exception of 2009, when the sector was strongly affected by the global financial crisis, it has been growing for more than 10 years.
With this acquisition, EcoRodovias takes another important step focusing on logistics integration and it positions itself as one of the biggest and best prepared business groups that will drive the country’s economy and trade, domestically and abroad.
EcoRodovias operations are organized in logistics systems that include multimodal terminals and highway concessions in the main import and export corridors and the circulation of the country’s goods, production, consumption and tourism.
Fifty percent of the cargo moved for importation and exportation pass over the 1935 kilometers of highways run by the company (already considering the 476 kilometers of BR-101). EcoRodovias also has 14 logistics units, including distribution centers, warehousing and dry ports and three multimodal platforms.