en.Wedoany.com Reported - Brazilian integrated energy and infrastructure group Cosan signed a letter of intent on August 13, 2026, to sell a 100% stake in the São Luís Port Private Use Terminal (TUP São Luís) to an unnamed third party, with an indicative transaction price of R$300 million. The parties have entered exclusive negotiation talks and will continue discussions on the final transaction documents.

Under the letter of intent, the base transaction amount will be paid at closing and adjusted from the date of proposal acceptance in accordance with the Brazilian Broad Consumer Price Index (IPCA). The agreement also includes contingent consideration: for each additional berth newly built or under construction by 2035, beyond the existing main berth, Cosan will receive R$50 million, with such amounts also adjusted by IPCA.

Cosan acquired full interest in the project in two steps. The company purchased a minority stake in November 2021 for R$393.6 million, and subsequently acquired the remaining 51% stake in February 2022 from parties related to China Communications Construction Group for R$411.2 million, with cumulative investment of approximately R$804.8 million.

Cosan recognized an impairment loss of R$233 million in the second quarter of 2026 related to the proposed sale of the port asset. During the same period, the company's headquarters-level expanded net debt declined to R$9.22 billion, down approximately 19.7% quarter-over-quarter. The proposed sale of the port stake is a continuation of its strategy to divest non-core assets and reduce holding-level debt.

Completion of the transaction remains subject to the parties signing a final agreement, satisfying customary conditions precedent, and completing closing procedures. The base price and berth contingent payment mechanism may also be adjusted in the final documents.