A bevy of companies, including ones from overseas, have made significant bids on the for-sale Brazilian container terminal Sepetiba Tecon, according to Reuters.
A total of 10 bids have been received by the terminal’s owner, Brazil’s national steel company Companhia Siderúrgica Nacional (CSN).
The terminal is located in Rio de Janeiro state’s Itaguai port, about 50 miles from the city of Rio, and it was put on the block last year as CSN tried to raise cash to help it fend off the challenge of cheap steel from China.
Sepetiba Tecon has an annual capacity of 400,000 teus. Initially valued at $266m last year, some estimates now price it as much as $371m, with the multiple suitors pushing the price up.
Among the bidders are Singapore’s PSA International, Chile’s SAAM, LOGZ and Wilson Sons.
