Simpar Sells Bahia Port Terminals to ICTSI for R$1.8 Billion

Brazilian logistics holding company Simpar (SIMH3) has agreed to sell 100% of its Bahia-based port terminal operator, CS Porto Aratu, to global port giant ICTSI Americas for an enterprise value of R$1.8 billion. The transaction, announced on July 23, 2026, includes the assumption of R$1.0 billion in net debt and R$800 million in equity value. Of the equity portion, R$650 million will be paid in cash at closing, with an additional R$100 million structured as an earn-out payable within 18 months.

The divestment represents a significant strategic win for Simpar, which invested only R$128 million of its own capital in the concession since winning the auction in December 2020. This yields an impressive 5.8x multiple on invested capital (MOIC) over an average holding period of 3.6 years. The assets sold comprise terminals ATU12 and ATU18 at the Port of Aratu in Bahia, which serve as crucial export infrastructure for the fast-growing Matopiba agricultural region.

For global investors looking to invest in Brazil, the deal highlights strong international appetite for local infrastructure and the strategic value of Brazil agribusiness. The buyer, ICTSI, is the world's largest independent port operator and will integrate these dry bulk terminals into its expanding Brazilian footprint. The transaction is subject to regulatory approval by Brazil’s antitrust agency, Cade, and the local port authority, Codeba.

The cash influx and debt transfer provide a major boost to Simpar's ongoing deleveraging efforts. Analysts estimate the transaction will reduce Simpar’s holding company net debt from R$2.8 billion to R$2.0 billion, lowering the consolidated group leverage from 3.0x to 2.7x net debt-to-EBITDA.

On the Brazil stock market today, local equities traded lower, with the benchmark Ibovespa today closing down at 175,214.62 points (-0.85%). Among major Brazilian ADR tickers and local heavyweights, Petrobras (PBR / PETR4) fell 0.28% to R$42.83, Vale (VALE / VALE3) dropped 0.83% to R$75.05, and Itaú Unibanco (ITUB / ITUB4) slipped 0.99% to R$42.14.