IG4 Capital has closed the acquisition of Brazilian logistics company CLI


CLI operates one of the country’s largest grain terminals in the northern port of Itaqui in the state of Maranhão. The deal involved approximately USD 240 million in a complex debt restructuring and debt-equity swap within nine banks (Banco Bradesco, Banco Votorantim, Banco Santander, Banco do Brasil, Rabobank. ABN Amro, Bank of China, Credit Suisse and MetLife Inc.) and CLI’s former controlling shareholder, CGG Trading. IG4 has secured also the renegotiation of CLI’s main clients agreements. That will make CLI to increase usage at the terminal, which has just doubled its storage capacity to 15 million tonnes of soy. Brazil’s 2019/20 soy crop beat a record of 124.8 million tonnes and the 2020/21 crop is expected to be even bigger.