June 22, 2020 |
Brazilian private equity fund manager IG4 Capital said it has taken control of a grain terminal in the state of Maranhão after coming to an agreement with the local commodities firm CGG Trading and its creditors.
IG4 acquired $237 million in debt and converted it into equity to take 100% of Corredor Logística e Infraestrutura (CLI), which owns a controlling stake in the grain terminal at Porto Itaqui, according to market sources.
CLI is one of four companies in the Tegram consortium, which hold
Brazilian private equity firm buys debt and swaps it for equity in CGG's grain facility in Maranhão