Mubadala Capital acquired 60.3% of Brazilian infrastructure firm Invepar’s subsidiary Linha Amarela (Lamsa), which manages Rio de Janeiro’s expressway, through a BRL 349.8 mn (AED 238.2 mn) debt-to-equity swap, with the Brazilian infrastructure company set to keep the remaining shares, according to a statement (pdf).

This acquisition will fully settle some outstanding debt obligations between Mubadala and Invepar, involving debentures issued in 2017.

REMEMBER- Invepar owed Mubadala approximately BRL 650 mn (AED 434.7 mn) tied to debentures, with their negotiations previously resulting in a 15-day timeout in June as Invepar aimed to restructure its debt without going to court. Those notes are backed by major assets like the Linha Amarela expressway in Rio and a pledge related to the Guarulhos Airport concession, Brazil’s busiest airport.

What’s next? The transaction is still subject to approval from Brazil’s antitrust authority (CADE) and the Rio de Janeiro Municipality, as well as other customary precedent conditions.

Mubadala ♥️ Brazil: Last year, the sovereign wealth fund earmarked USD 13.5 bn to set up a biofuels project in Brazil, adding to its in-country portfolio that includes subway operators in Rio de Janeiro and a 58% stake in Brazilian food retailer Zamp.

ALSO FROM MUBADALA-

The sovereign wealth firm finalized the acquisition of a 30% stake in Hong Kong-based pooling and packaging solutions provider Loscam International Holdings through its subsidiary Mamoura Diversified Global Holdings, the National reports, citing a company statement.

Refresher: Mubadala had inked a share purchase agreement to acquire the stake back in June, for a total of USD 566.6 mn (RMB 4.1 bn), based on a company valuation of RMB 11.8 bn on 31 December 2024.

Who owns what? Mubadala and the private equity arm of China-focused alternative investment firm CITIC Capital, Trustar International, will each hold a 30% stake in the company, while Asian private equity firm FountainVest and China Merchants Group’s Sinotrans will each own 20% of the firm.

Where will the money go? The investment will strengthen Loscam’s global expansion and promote a new model of collaboration in the logistics packaging equipment industry, vice president of Sinotrans Li Shichu said. He added that the firm’s diversified shareholder base will bring a broader global outlook and improved access to capital.

REMEMBER- Mubadala’s acquisition of a stake in Loscam represents a major expansion of its logistics portfolio, which currently includes Australian Logistics Platform and PCI Pharma Services. It aligns with the fund’s strategy to diversify into resilient, asset-backed sectors with long-term growth prospects, while capitalizing on rising demand for efficient and sustainable logistics systems in fast-growing markets.

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