Mubadala taps advisors to sell Brazilian port: UAE sovereign wealth fund Mubadala subsidiary Mubadala Capital and Singapore trading giant Trafigura Group have reportedly hired Goldman Sachs and UBS BB, a JV between Swiss UBS and Brazil’s Banco do Brasil, to advise on the sale of Brazilian iron-ore port terminal operator Porto Sudeste, Reuters reports, citing sources with knowledge of the matter.

The sale will possibly take place within six to nine months, though potential buyers have not been yet contacted, one of the sources revealed. Porto Sudeste disclosed that it is in early talks with financial advisors to explore a sale in a regulatory filing earlier this month.

About Sudeste: Porto Sudeste is a 52 hectare private port terminal with two berths located in Itaguai, Rio de Janerio designed to handle up to 50 million tons of iron ore per year.

Background: Bloomberg reported that Mubadala is looking to shed the assets earlier this month, as it looks to use the sale proceeds to boost investments in Bahia state, including a planned refinery for green diesel and sustainable aviation kerosene. The port had exported below its capacity last year due to competition from Vale SA’s export facilities.

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