On Thursday, August 13, 2026, Cosan S.A. (CSAN3) reported that it has formalized a letter of intent, submitted by a third-party interested buyer, for the sale of all the stake it holds in Terminal de Uso Privado Porto São Luís S.A. (TUP São Luís). The proposal sets an offered price of R$ 300 million for Cosan’s entire stake in TUP São Luís, to be paid at the closing of the transaction.
In addition to this indicative amount, Cosan may be entitled to an earn-out, that is, an additional amount subject to future performance, tied to potential new berths implemented or to be implemented at TUP São Luís through 2035, in addition to the main berth, with an indicative amount of R$ 50 million per berth. All amounts will be adjusted by the accumulated change in the IPCA inflation index from the acceptance of the proposal until their respective payment dates.
The acceptance of the proposal, as well as the implementation and completion of the transaction, are subject to the usual precedent conditions for this type of deal and to the negotiation and execution of the definitive documents. Cosan stated that it will keep its shareholders and the market informed about the developments of this negotiation.
