The corporate reorganization for the spin-off of the terminals of North Mesh and subsequent incorporation into course (RAIL3) completed another step, defining the cash position and the exchange ratio proposed in the operation, according to the material fact disclosed by the parties this Friday.
The operation, which is under evaluation by the companies and was announced in April, involves the transfer of Malha Norte’s stake in Terminal XXXIX in Santos, in the Bulk Terminal in Guarujá and in the Maritime Terminal in Guarujá to Rumo, its parent company.
In addition, there will be a transfer of 2.65 billion reais in cash, an amount that had not been disclosed until then.
Committees set up by the companies to discuss the matter also defined an exchange ratio of approximately 0.12 Rumo shares for each Malha Norte share. This is because shareholders of Malha Norte who retain their shares, if the operation is carried out, will receive shares in Rumo in proportion to the split.
The topic will now be analyzed by the Boards of Directors and other governance bodies of the companies.
Source: Moneytimes
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