The Brazilian steel, iron ore and cement producer CSN announced the acquisition of a 70 percent capital stake at Estrela Comércio e Participações, for BRL 742.5 million ($120 million).
Estrela is the holding company of Tora Transportes, one of Brazil’s most important logistics operators, focused on large volume intermodal road to railroad integration and on the operation of cargo terminals.
According to CSN, the acquisition will “promote a strong growth of intermodal operations, exploring more intensely the current infrastructure of the regions of operations, improving the performance of CSN in the logistics area”.
The acquisition is subject to the approval of the competition authority CADE, among other conditions.