Brazilian port operator CLI concluded the payment of 1.4...

Brazilian port operator CLI concluded the payment of 1.4 billion reais ($263.43 million) on Monday to railway company Rumo SA RAIL3.SA for control of a grain terminal in Santos port, the company said.

The deal is being funded by the acquisition of a 50% stake in CLI, formally Corredor Logistica e Infraestrutura, by Australia's Macquarie infrastructure Partners from Brazilian private equity firm IG4.

In an interview with Reuters, CLI's Chief Executive Officer Helcio Tokeshi said the Australian group will have two board members in the company, IG4 will also have two members and a fifth will be independent.

The acquisition of the grain terminal in Santos, Latin America's largest port, will more than double CLI's net revenue, to around 470 million reais pro forma this year, Tokeshi added. Earnings before taxes, depreciation and amortization, a gauge of operational profit known as EBITDA, will reach around 390 million reais annually, Tokeshi added.

The port operator is also looking into other acquisition targets among grain and fertilizer port terminals, Tokeshi said, without elaborating.

The deal to sell a 50% stake in CLI to Macquarie and the subsequent acquisition of Rumo's port terminal was first announced in July. ($1 = 5.3146 reais)