EBT Group wins dispute for leasing area in port of Santos/SP

The EBT Group – Brazilian Company of Terminals and General Warehouses SA, controller of Ageo Terminals, won last Friday, the 28^th, the dispute for the lease of an area in the port of Santos (SP) dedicated to the movement and storage of liquid fuel bulk. In auction at B3, in São Paulo, the company offered a grant of R$ 200 million for the area, called “STS 13”. The minimum amount to be offered was R$ 1.00.

The dispute for the area went to open outcries, as three companies bid for the asset last Tuesday, when B3 received the envelopes.

Granel Química, which currently occupies the area, had offered R$ 142 million for the area and another bidder, Cattalini Terminais Marítimos, offered R$ 20 million. In the open outrcries auction, Granel raised the bid to R$ 202 million, but was beat by EBT which raised its bid to R$ 210 million.

The auctioned area is located on Barnabé Island, on the left bank of the Port of Santos. Connected to the highway and pier, the terminal serves as a mixed-use storage facility with 99 pressurized tanks for chemicals, ethanol and petroleum products, under the jurisdiction of the São Paulo State Dock Company (Codesp).

With a term of 25 years (renewable for up to 70 years), the agreement reaches a global value of R$ 1.3 billion. The future lessee should invest R$ 198.2 million in the area.

During the process, Ageo was assisted by attorneys Jorge Henrique de Oliveira Souza, Heloísa Armelin and Danielle Franco of Tojal | Renault Advogados.

Content originally published on the Migalhas legal portal.