Simpar (SIMH3) announced on Thursday, July 23, 2026, the signing of a contract for the sale of 100% of HSIM Participações e Holding Ltda., the controlling shareholder of CS Porto Aratu, for an Enterprise Value of R$ 1.8 bn in 2026. The transaction was entered into with ICTSI Americas B.V. and involves the transfer of the companies ATU12 Arrendatária Portuária SPE S.A. and ATU18 Arrendatária Portuária SPE S.A., both wholly owned by HSIM.
According to the company, the transaction is composed of Equity Value of R$ 750 mn and net debt of R$ 1.0 bn relative to the first quarter of 2026. Payment of the Equity Value will be R$ 650 mn on the closing date and R$ 100 mn in earn-out, an additional amount conditional on targets, with a term of up to 18 months after closing.
Simpar reported that, considering the three infrastructure companies developed under its management – Ciclus Rio, Ciclus Amazônia and CS Porto Aratu – the combined Enterprise Value totals R$ 3.9 bn, with an average internal rate of return of 36% per year, 24 percentage points above the CDI and 30 percentage points above the Ibovespa in the period. The multiple on invested capital (MOIC) is 2.9 times over an average term of 3.3 years.
In the specific case of CS Porto Aratu, investments with own capital totaled R$ 128 mn, which, according to Simpar, implies a MOIC of 5.8 times over an average term of 3.6 years. The company highlights total investment of R$ 900 mn in CS Porto Aratu, focused on operational innovation, capacity expansion and modernization of port infrastructure.
Closing of the transaction is still subject to the fulfillment of precedent conditions, including approval by the Administrative Council for Economic Defense (Cade) and authorization from the granting authority. Bradesco BBI acted as Simpar’s financial advisor in the transaction.
